Acxiom Study Reveals New Mindsets of Auto Buyers in Post - “Cash for Clunkers” Era
January 19 2010 - 7:00AM
Business Wire
Consensus is building that U.S. auto sales will rebound in 2010,
but just which brands and models attract buyers will continue to
evolve amid lingering economic pressures, according to the latest
Automotive Consumer Dynamics study from Acxiom® Corporation
(Nasdaq: ACXM). The report gives manufacturers and dealers insights
to win business in the post-“Cash for Clunkers” era.
Among the findings:
- Discontinued brands
Pontiac and Saturn are gaining favor with five out of
10 Acxiom consumer groups, likely a result of deep discounts
- The Mini-Cooper is
gaining traction with singles, but losing favor with “singles in
the city”
- Lincoln is gaining with
city dwellers, but losing with suburbanites
- Buick is gaining with
rural, blue-collar buyers – but losing with the “married with
children” segment
- Kia has emerged as a “top
4 brand” gaining favor among blue-collar buyers, who previously
gravitated toward brands that have gone bankrupt (Dodge, Chevrolet)
or been eliminated (Pontiac).
When studying the purchase motivators of recent buyers, Acxiom
found interesting reasons why people chose certain brands:
- Tech Toys – Purchasers of
Ford, which features Sync, and Chrysler/Chevrolet with satellite
radio, selected these features as their top reason to buy
- Incentives – Kia buyers
selected financing options and incentives “too good to pass up” as
their reasons to buy
“Last year’s economic downturn will surely have a longstanding
effect on consumer expectations and behavior, and vehicle purchases
are no exception,” said Jeff Hood, automotive industry executive
for Acxiom. “For the third consecutive year, we’re excited to
continue providing this up-to-the-minute look at what consumers are
doing and thinking, because in an age where brand loyalty is
becoming less and less relevant, auto manufacturers and dealers
need to constantly learn and adjust their approach to be successful
in targeting buyers’ sweet spots. We hope our next study brings a
continued positive outlook for the automotive industry.”
In addition to the above key findings, Acxiom’s latest study
also explores:
- A portrait of the 2010
post-“Cash for Clunkers” consumer
- Social networks to leverage in
targeting new vehicle purchasers
Automotive Consumer Dynamics is the industry’s first
comprehensive, consumer-centric view of the U.S. automotive market.
This issue combines the past year’s consumer behaviors with a
post-“Cash for Clunkers” snapshot of purchase behaviors. Developed
from the world’s largest repository of up-to-date consumer
intelligence, InfoBase-X®, and Acxiom’s industry-leading PersonicX®
life-stage segmentation, the study applies sophisticated modeling
and analysis to deliver a powerful combination of hindsight,
insight and foresight that spans more than 200 million U.S.
consumers representing more than 128 million households and more
than 40 million vehicle purchase/trade-in transactions.
For a copy of the study, please go to
www.acxiom.com/automotiveconsumerdynamics. For more information on
Acxiom products and services, call 1-888-3ACXIOM or visit
www.acxiom.com.
About Acxiom
A global leader in interactive marketing services and
infrastructure management, Acxiom connects clients with their
customers through deep customer insight, powering effective and
profitable marketing initiatives and business decisions. Our
consultative approach spans multiple industries and incorporates
decades of experience in consumer data and analytics, information
technology, data integration and consulting solutions for effective
marketing across digital, Internet, email, mobile and direct mail
channels. Our secure, high-performance technology services deliver
consistent value and reliability. Founded in 1969, Acxiom is
headquartered in Little Rock, Arkansas, and serves clients around
the world from locations in the United States, Europe and
Asia-Pacific. For more information about Acxiom, visit
www.acxiom.com.
Acxiom, PersonicX and InfoBase-X are registered trademarks of
Acxiom Corporation.
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