For car dealers, the holy grail isn't a flashy sports car or a top-selling SUV. It's a simple whisper: "I'm thinking about getting a new car." Imagine if you could hear that murmur from every potential customer walking through your doors, online, or even driving down the street. That's the power of knowing who's in the market for a new car, and it's a game-changer for dealerships. Go beyond the cookie and website tracking and leverage the power of psychographic data and predictive analytics to know who is coming into the market in the next 30, 60, 90 days with the Experian Marketing Engine’s Affinity AutoAudiences. Boost Efficiency and ROI: Targeted Sales: No more shotgun blasts of marketing campaigns! Precisely target consumers considering a new car with personalized offers and incentives. Imagine tailoring financing proposals based on their budget and desired features, not guesswork. Inventory Optimization: Say goodbye to dusty lots filled with unsold models. Knowing market trends and individual preferences allows you to stock in-demand vehicles, maximizing sales and minimizing depreciation costs. Streamlined Sales Process: When a customer walks in already open to buying, the entire process becomes smoother. Focus on addressing their specific needs and preferences, leading to quicker deals and happier customers. Build Stronger Customer Relationships: Proactive Engagement: Instead of waiting for leads, reach out at the perfect moment. A friendly call or email during their research phase demonstrates attentiveness and builds trust, setting you apart from the competition. Personalized Recommendations: Forget one-size-fits-all pitches. Recommend models based on their lifestyle, budget, and driving habits. This shows genuine interest and builds rapport, increasing the likelihood of conversion. Enhanced Customer Experience: Cater to their specific needs before they even step onto the lot. Offer virtual test drives, online financing options, and even home delivery – all tailored to their preferences. This level of personalized service fosters loyalty and repeat business. Leverage the Power of Data: Knowing when a consumer is in the market for a new car isn't just about a head start, it's about building trust, offering convenience, and tailoring the entire experience to their needs. In a competitive market, this inside knowledge is the key to unlocking increased sales, stronger customer relationships, and ultimately, a thriving dealership. So, what are you waiting for? Start listening and turn those whispers into deals! Or

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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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