Q4 2020 Aftermarket Trends: Full-Sized Pickups Remain at Top, While Sweet Spot Grows

Without data, anticipating buyer behavior in the months ahead can be challenging. While some OEMs had record sales¹ this spring, it remains critical to identify who’s in the market—whether to purchase or service their vehicle. With tax refund season in the rearview mirror and summer promotions approaching, consumers may be weighing their next move. Some could have “one foot in the showroom door” while others are waiting to see which dealer delivers the most compelling offer. Meanwhile, 41% of drivers choosing to keep their vehicles longer² are likely focused on maintaining them. So how can you best position yourself?  Explore These 3 Strategic Moves to Navigate This Summer:  Firm up your Service Marketing Plan: With summer road trips on the horizon, your customers may be in the market for services like A/C repair, wheel alignment, tire rotation, engine cooling, oil changes, multi-point inspections, and more. Discover who’s most likely to need service in the next 30–60 days with Experian Automotive’s AutoAudiences. Understand Customers’ Communication Preference: To effectively target your audience, start by understanding how they would prefer to communicate. As Car Dealership Guy puts it, “The shift in consumer preferences is undeniable and generational.”³ Experian Automotive’s Product Management Director, Kirsten Von Busch echoes this, adding, “Understanding generational differences is crucial to developing effective marketing strategies that resonate with each group’s unique preferences”. Experian’s Automotive Consumer Insights support this approach with data-driven messaging and communication channel recommendations.  Focus on Growing Market Share with Mid-Year Auto Trends: Two purchase types that are trending in the beginning half of the year include Leasing⁴ and Trade-In. Whether you have EVs or AWD vehicles on your lot, consider (A)ll (W)eather (D)eals that can (1) Supersede those in your backyard as part of your Conquest strategy and (2) Build upon your “Why Buy” dealer loyalty.  Experian Marketing Engine powers automotive marketing by helping automotive marketers identify the right audience, uncover the most appropriate communication channels, develop messages that resonate and measure the effectiveness of their marketing activities. Timing is everything, so start Targeting and Conquesting in your Market today!  Sources:  http://www.autonews.com/retail/sales/an-april-us-sales-2025-0501/  https://news.dealershipguy.com/p/3-real-time-shifts-in-car-buying-behavior-post-tariff-announcements-2025-05-01  https://news.dealershipguy.com/p/dealers-are-saving-thousands-in-labor-in-fixed-ops-2025-05-30 https://www.experian.com/blogs/insights/auto-the-current-state-of-ev-financing-why-more-consumers-are-choosing-leasing/

In this episode of "The Chrisman Commentary" podcast, Ken Tromer and Ted Wentzel discuss how Experian Verify ensures price transparency.

Electric vehicles (EVs) are the topic of conversation in the automotive industry, but we’re continuing to see another fuel type pick up speed. With consumer demand shifting and drivers exploring more fuel-efficient options, the automotive market is leaning back into hybrids. In fact, new retail hybrid registrations grew to 11.5% through Q3 2024, from 9.5% through Q3 2023, according to Experian’s Automotive Market Trends Report: Q3 2024. Meanwhile, EVs increased from 7.7% to 8.2% year-over-year and gasoline vehicles declined to 70.4% this year, from 72.7% last year. Despite EVs gaining notable attention over recent years, some consumers may be factoring in the benefits of opting for a hybrid, such as the convenience of driving a longer distance without facing challenges as charging stations remain limited. As more manufacturers adapt to consumer needs and roll out additional vehicles, data shows 9.1% of 2024 model year vehicles in operation were attributed to hybrids, while 6.2% of 2024 model years were EVs through Q3 2024. Having more models enter the market has shifted the hybrid and plug-in hybrid electric vehicle (PHEV) market share, with the Toyota Camry making up 12.5% of the market share this quarter, a notable increase from 2.4% last year. On the other hand, the Jeep Wrangler 4xe went from having 4.5% of market share last year to 2.4% through Q3 2024. With many consumers continuing to have some concerns around EVs such as range anxiety and charging times, they’re seeking a more practical solution for their daily driving needs. The balance of fuel options provides more convenience—making hybrids an appealing choice for those wanting an EV alternative. It’s important for manufacturers to stay ahead of the competitive market as it’s constantly evolving. Leveraging the most current data can provide solutions that address both feasibility and consumer preference. To learn more about vehicle market trends, view the full Automotive Market Trends Report: Q3 2024 presentation on demand.