According to Experian’s Automotive Market Trends Report: Q1 2024, hybrids accounted for 11.8% of new vehicle registrations, an increase from 8.8% last year.

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As more consumers lean towards adaptable and efficient vehicles that fit their everyday lifestyle, it’s no surprise to see the nuanced shifts in consumer preferences over recent years. For instance, compact utility vehicles (CUVs) have resonated with those seeking versatility—emerging as the most registered new vehicle segment in the first quarter of 2024 at 51.1%, according to Experian’s Automotive Consumer Trends Report. When exploring the depths of CUV registrations, data showed Toyota led the market share for the non-luxury segment at 14.9% in Q1 2024. They were followed by Chevrolet (12.1%), Honda (11.4%), Subaru (10.4%), and Hyundai (10.0%). On the luxury side, Tesla accounted for 28.0% of the market share this quarter and Lexus trailed behind at 14.1%. Rounding out the top five were BMW (12.2%), Audi (8.6%), and Volvo (6.2%). CUV registration trends by generations It’s notable that different generations are drawn to CUVs for a multitude of personal preferences that align with their respective lifestyles. For example, Baby Boomers made up 32.3% of new retail registrations for CUVs and Gen X was close behind at 30.4% in Q1 2024. They were followed by Millennials (23.6%), Gen Z (7.9%), and the Silent Generation (5.4%). While some generations seek a vehicle that strikes a balance between practicality and comfort, others may prefer smaller and more maneuverable vehicles. Nonetheless, CUVs making up just over half of new retail registrations is something that should be watched closely. By leveraging multiple data points such as who is in the market for a CUV as well as the types of makes and models they’re interested in, professionals have the opportunity to strategize new ways to effectively reach shoppers. To learn more about CUVs, view the full report at Automotive Consumer Trends Report: Q1 2024. Or

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In the ever-evolving landscape of automotive marketing, insight and measurement are paramount. Recognizing this, Strategus and Experian Automotive have joined forces to help improve digital automotive marketing campaign measurement. The Challenge The case study unfolds against a backdrop familiar to many advertisers: a regional advertising agency representing an OEM sought to evaluate the performance of their CTV automotive marketing campaign. Their objectives were clear: Assess digital and TV campaign performance, attributing actual vehicle sales accurately. Pinpoint top-performing audience segments and offers, factoring in demographic and psychographic variations. Adapt marketing strategy based on real-time campaign performance metrics. The Solution Strategus took the helm, leveraging Experian’s OmniImpact for Automotive solution to navigate these goals. They crafted a programmatic campaign targeting previous buyers of a specific vehicle model within a targeted geographic region. Through CTV advertising, they heightened awareness among the targeted audience, ensuring maximum engagement. Joel Cox, co-founder and EVP of Innovation and Strategy at Strategus summarizes the value of this collaboration perfectly: “Strategus is thrilled to collaborate with Experian to offer this novel auto sales attribution solution. While we know the positive influence CTV advertising can play in driving auto sales, the measurement and attribution of those sales can be a murky and incongruent snapshot heavily reliant on assumption and incomplete first-party datasets. While Experian’s OmniImpact for Automotive campaign measurement solution has been available to the largest auto advertisers, this relationship between Strategus and Experian Automotive democratizes this comprehensive measurement solution to all auto-selling clients of Strategus, regardless of size or sales volume.” Click here to learn more about the specific results and how Strategus and Experian Automotive work together to optimize campaign focus. Conclusion In a digital age where data reigns supreme, collaborations like that between Strategus and Experian Automotive showcase the power of leveraging precise insights to drive campaign results and automotive sales. By combining innovative strategies with advanced analytics, advertisers can not only measure campaign performance accurately but also adapt in real-time to maximize impact. As automotive marketing continues to evolve, relationships such as these that prioritize precision and insight will undoubtedly shape the industry's future. Or

Over the past few years, we’ve seen in-market shoppers lean into the used vehicle space; however, with new vehicle inventory continuing to rebound, we’re starting to see a reversal of fortune. Data in the first quarter of 2024 shows how the resurgence of new vehicle inventory is reshaping the automotive landscape.

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