Looking at new vehicle sales for all of U.S. for the 9 months ending September, here are the topline highlights compared to the same period in 2019:
- Car Sales: 2.5M units, -30.5%
- Light Truck Sales: 7.8M units, -13.5%
Of course, your dealership’s new car sales percent may be different than the 25% national average car sales percent, maybe more maybe less. You will want an advertising strategy and tactics to be aligned with the vehicle demand mix.
At the local market level or even a lower level of geographic granularity, you’ll want to tailor your advertising and inventory mix to reflect the evolving demand patterns. At iAuto, we believe the following best practices will help focus your efforts on both cars and light trucks:
- Evaluate local market demand for cars vs light trucks to understand the vehicle mix. Note that the mix may be different seasonally and based on incentives.
- Plan your inventory to align with the local demand. Stock the right mix of cars vs light trucks.
- Plan and execute an advertising approach that accounts for your vehicle mix, seasonal patterns and incentives.
Constant and consistent evaluation of your dealership’s vehicle mix sales and trend patterns will help you plan and execute better to drive more sales.