Automotive Marketing
Amid the fallout of COVID-19, I often find myself thinking about the impact the pandemic has had and will have on businesses in the coming months—particularly those within the automotive industry. The impact has reached all facets of the industry, leaving dealerships to take unprecedented action. Some have temporarily closed, while many have shifted business priorities to focus on maintenance and repair. Like everyone, we in the automotive industry are concerned about the health and safety of our family, friends and communities. Much like the rest of small business owners, those that oversee dealerships are also concerned about the wellbeing of their work families. The automotive industry is a pillar of our economy, and dealerships are staples within our local communities. Experian has an unwavering commitment to help the industry navigate these uncertain times and address challenges as they arise. The pandemic has impacted groups of people differently and at different times. It’s important for those within the automotive industry to understand how consumer sentiment and priorities will shift over the coming months, in order to address their most pressing needs. As such, Experian launched a daily survey of the general population to gain insight into shifting consumer sentiment as a result of the pandemic. The survey reveals how consumers are dealing with the outbreak across key industries, including automotive. As of May 4, 2020, only 20 percent of Americans plan on buying a new car, truck, van or motorcycle within the next few months, and of those, only 50 percent plan to continue the purchase as planned. 26 percent plan to delay the purchase a few months. While car shopping may not be a priority for most in the coming months, there are consumers who will need to replace their vehicle sooner rather than later—perhaps their lease is set to expire, or they’ve experienced car trouble. In these instances, it’s important for dealers to be able to connect with these consumers to help them understand the options available to them. With this urgency in mind, Experian is providing dealers with complimentary access to nationwide and local automotive market trends. The information will be updated weekly to help dealers gain insight into current sales trends and website traffic, better understand in-market car shoppers and identify the most effective communications channels. For instance, during the week of April 27, dealer website traffic was down 11 percent from the same time last year. That said, web site traffic has picked back up over the past few weeks.. With the short- and long-term impacts of the pandemic largely unknown, dealerships must adapt quickly. Consumers\' vehicle needs will shift based on circumstance, and it’s important for dealers to continually assess the market. We are all adapting to our new environment, and will need to collaborate to find ways to combat the fallout—it’s a difficult time for many, including dealers. The automotive market will recover, and Experian is committed to helping the automotive industry navigate the recovery and ensure car shoppers can find vehicles that meet their needs. To view the Automotive Trends & Marketing Insights and sign up to receive your complimentary local market trends, click here. To view the Consumer Sentiment Index, click here.
In the past 10 years, consumers begin purchasing convertibles as early as March.
Update: After closely monitoring updates from the WHO, CDC, and other relevant sources related to COVID-19, we have decided to cancel our 2020 Vision Conference. If you had the chance to experience tomorrow, today, would you take it? What if it meant you could get a glimpse into the future technology and trends that would take your organization to the next level? If you’re looking for a competitive edge – this is it. For more than 38 years, Experian’s premier conference has connected business leaders to data-driven ideas and solutions, fueling them to target new markets, grow existing customer bases, improve response rates, reduce fraud and increase profits. What’s in it for you? Everything to gain and nothing to lose. Are you a marketer? These sessions were made to drive your conversion rates to new heights: Know your customers via omnichannel marketing: Your customers are everywhere, but can you reach them? Learn how to drive business-expansion strategy, brand affinity and customer engagement across multiple channels. Plus, gain insight into connecting with customers via one-to-one messaging. By invitation only, the future of ITA marketing: An evolving landscape means marketers face new challenges in effectively targeting consumers while staying compliant. In this session, we’ll explore how you can leverage fair lending-friendly marketing data for targeting, analysis and measurement. Want the latest in technology trends? Dive into discussions to transform your customer experience: Credit in the age of technology transformation: Machine learning and artificial intelligence are the current darlings of big data, but the platform that drives the success of any big data endeavor is crucial. This session will dive into what happens behind the curtain. Put away your plastic – next-generation identity: An industry panel of experts discusses the newest digital identity and authentication capabilities – those in use today and also exciting solutions on the horizon. How about for the self-proclaimed data geeks? Analyze these: Alternative data: Listen in on an in-depth conversation about creative and impactful examples of using emerging data assets, such as alternative and consumer-permissioned data, for improved consumer inclusion, risk assessment and verification services. The next wave in open data: Experian will share their views on the potential of advanced data and models and how they benefit the global value chain – from consumer scores to business opportunities – regardless of local regulations. And the risk masters? Join us as we kick fraud to the curb: Understanding and tackling synthetic ID fraud: Synthetic IDs present a serious challenge for our entire industry. This expert panel will explore the current landscape – what’s working and what’s not, the expected impact of the next generation SSA eCBSV service, and best practice prevention methods. You are your ID – the new reality of biometrics: Consumers are becoming increasingly comfortable with biometrics. Just as CLEAR has transformed how we use our biometric identity to move through airports, sports venues and more, financial transactions can also be made friction-free. The point is, there’s something for everyone at Vision 2020. It’s not just another conference. Trade in stuffy tradeshow halls and another tri-fold brochure for the insights and connections you need to take your career and organization to the next level. Like technology itself, Vision 2020 promises to connect us, unify us and enable us all to create a better tomorrow. Join us for unique networking opportunities, one-on-one conversations with subject-matter experts and more than 50 breakout sessions with the industry’s most sought-after thought leaders.
Electric vehicles have 2.08 percent of total VIO share through September 30, 2019
Introducing the newly designed AutoCheck Score™ Quickly compare and select used vehicles As an auto industry professional, you use vehicle history reports every day. But they’re long, complex — easily misinterpreted. You always aim to conduct a thorough inspection. But what if you’re at a busy auction house or browsing online, where there’s simply not enough time or context? The tool you use every day to make critical decisions about used vehicles should be accurate and easy to understand — built for streamlined evaluation. So we made one. New look, same impact We’ve revamped the AutoCheck score with a modern look and feel that’s easier than ever to read. And it’s still invaluable for quickly comparing and selecting used vehicles. What, exactly, is it? Experian® analyzes the detailed records in an AutoCheck® vehicle history report to generate the AutoCheck Score. Like a credit score or gas mileage rating for new vehicles, it’s a single number on a standardized scale. The new gauge shows the score range (from 1 - 100) for vehicles of similar age in the same class. If a car is above average in its range, you can feel confident that it’s a solid investment. The score makes it much simpler to assess how a used vehicle measures up, estimating its: Overall roadworthiness Reliability compared to other vehicles in its class Likelihood of being on the road in five years It is invaluable for making informed decisions, managing inventory, mitigating risk and instilling confidence in customers. Bigger, better You can depend on the AutoCheck Score to deliver a high-quality, more accurate assessment. That’s because it’s derived from Experian’s world-class, continually updated database, which leverages reliable information from extensive sources, including: Tens of thousands of distinct accident sources, many exclusive to Experian 95% of U.S. auction houses — most providing structural damage, salvage-and-junk and export-data announcements exclusively to Experian Important OEM safety and open recall data State departments of motor vehicles and departments of public safety, insurance companies and other independent sources Police department/state agency accident information from all 50 states and Washington D.C. Federal sources, like import records That’s a lot of data. And some complex statistical modeling. Don’t worry; we’ll take care of the heavy lifting. All you have to do is keep score. Why you need it Whether you’re a dealer, lender, manufacturer certified pre-owned program or consumer portal, the score will transform the way you do business to boost your bottom line. Dealers: Use the score to mitigate risk, manage and market your inventory, close sales faster and build customer loyalty. Lenders/Credit Unions: Use the score to more accurately estimate a vehicle’s value at every stage of the loan life cycle, from origination to portfolio review, account management and asset collection. Manufacturer Certified Pre-Owned Programs: Use the AutoCheck report for vehicle certification. Consumer Portals: Increase customer satisfaction — and traffic — by allowing OEMs and dealers to post the score with their listings and make online car shopping a breeze. Count on the AutoCheck Score To learn more about the score — or how to wield its power to maximal effect — find its secrets in this treasure trove of a white paper or call 1 888 675 5596. What are you waiting for? Redesign your business with the redesigned score.
Experian Boost provides a unique opportunity to help dealers build loyalty while helping consumers.
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