eMarketer’s Automotive StatPack, 2016
eMarketer has released their Automotive StatPack for 2016. This statpack gives an overview of digital automotive trends in 4 categories:
- Industry Sales & Transactions
- Ad Spending
- Buyers & Consumer Behavior
- Consumer Attitudes Toward New Automotive Technology
Below is a quick summary of the report; even though it contains primarily U.S. data, there are still trends in ad spending for OEMs and Dealers, as well as changes in consumer behavior that are relevant to the Canadian market.
Industry Sales & Transactions
The demand for cars and light vehicles has slowed by about 9% since 2015. Truck sales, however, have increased by 7%.
Digital ad spending increased by 22% in 2016 and is expected to keep increasing in 2017. The top 5 U.S. automotive advertisers were:
- General Motors ($3.50 billion)
- Ford Motor Co. ($2.68 billion)
- Fiat ($2.25 billion)
- Toyota ($1.80 billion)
- Nissan ($1.14 billion)
Buyers & Consumer Behavior
About half of car shoppers research online for auto options. 38% of people said that their mind was already made up on which vehicle they wanted to buy, and 47% of people said that they used online sources in the car buying process.
34.3% of car shoppers use Google Search for research, and 37.2% use the dealer’s website.
When purchasing their next vehicle, there are 8 main factors that people consider:
- Cost (18.5%)
- Gas mileage (15.2%)
- Type of vehicle (14.9%)
- Size (13.9%)
- Comfort (12.5%)
- Brand name (11.3%)
- Style (8.6%)
- Luxury (3.7%)
Advertisers should consider these factors when building campaigns to ensure that they are showing shoppers what they are looking for. Are your campaigns and your website are showcasing this information?
It wouldn’t be 2016 data without talking about mobile devices: 40% of car shoppers say they used a mobile device while at a dealership, and 3/4 of millennial car shoppers used their mobile device to compare vehicles while in a dealership.
Consumer Attitudes Toward New Automotive Technology
One of the most talked about new technologies has been autonomous cars. According to Berg Insights, autonomous cars will debut in 2020, and manufacturers will have sold 24 million of them by 2030. Of course, the number one concern among consumers is safety with over 65% saying it is the number 1 reason they would not consider buying a self-driving car.