CHICAGO — Though news from Chrysler and General Motors dominated auto media coverage last week, almost three-fifths of U.S. consumers claimed that the challenges facing the domestic auto industry and the economy won’t impact whether they buy from American automakers, according to a recent Cars.com study.
More specifically, 59 percent said their vehicle choice wouldn’t be influenced by struggles among domestic brands and in the U.S. economy. Also, only 20 percent indicated that the threat of bankruptcy would keep them from considering buying American.
“I think it’s clear that most Americans believe that the American car manufacturers are going to survive in some capacity and many are just taking a wait-and-see approach like many other facets of this economy,” commented Patrick Olsen, editor-in-chief of Cars.com.
“The survey also showed that the older you are the more likely you believe in the survival of these companies,” he added.
For instance, over 40 percent of consumers ages 45 to 64 said they felt confident that domestic OEMs would succeed, while just 12 percent of consumers ages 18-24 said the same.
Breaking it down further, the study also examined how various government and manufacturer incentives have impacted car shoppers.
Thirty-eight percent of consumers claimed that the biggest incentive to buy a new vehicle is the government’s announcement that it will allow consumers to deduct the state sales tax on new-car purchases, according to Cars.com.
Meanwhile, 28 percent said various automakers’ assurance programs would be the biggest motivator, while 13 percent were influenced by government-backed OEM warranties.
Article courtesy of AutoRemarketing.com
John Paul Strong
John Paul Strong combines his two decades of automotive marketing experience with a team of more than 140 professionals as owner and CEO of Strong Automotive.