Table of Contents
Scope and Themes
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- What you need to know
- Definition
- Data sources
- Sales data
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Terms
Executive Summary
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- The market
- New car sales reach 16.5 million units in 2014, continuing rapid growth
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- Figure 1: Total US unit sales and fan chart forecast of new cars, 2009-19
- More light trucks sold than passenger cars
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- Figure 2: U.S. UNIT SALES OF NEW CARS VS. LIGHT-TRUCKS, 1980-2013
- Market drivers
- High gas prices influence vehicle preferences
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- Figure 3: All grades all formulations retail gasoline prices, 2000-14
- Key players
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- Figure 4: Top 10 brands, 2013 unit sales
- Figure 5: Ford Market share and unit sales, 2002-13
- The consumer
- Aging vehicle primary driver for new purchase
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- Figure 6: Reasons for wanting another vehicle, by new intenders, May 2014
- Nearly three quarters of car intenders plan to buy new
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- Figure 7: Car buyers who expect to purchase a new vehicle, by gender, May 2014
- Consumers want to avoid future maintenance costs
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- Figure 8: Incentives and service features important to new vehicle intenders, May 2014
- Smartphone connectivity can influence new car buyers
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- Figure 9: Tech and audio features important to new vehicle intenders, May 2014
- Safety features highly influential among women
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- Figure 10: Safety features important to new vehicle intenders, by gender, May 2014
- What we think
Issues and Insights
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- Who are the next audience of car buyers?
- The issues
- The implications
- How can dealerships emphasize that car buying is not just a man’s world?
- The issues
- The implications
- How can marketers help consumers solve the new vs. used decision?
- The issues
- The implications
Trend Application
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- Trend: Access All Areas
- Trend: Slow It All Down
- Trend: The Suite Life
Market Size and Forecast
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- Key points
- New car sales reach 16.5 million units in 2014, continuing rapid growth
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- Figure 11: Total US unit sales and forecast of new cars, at current prices, 2009-19
- Fan chart forecast
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- Figure 12: Total US unit sales and fan chart forecast of new cars, at current prices, 2009-19
Market Segmentation
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- Key points
- Crossovers help propel light truck sales above passenger cars
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- Figure 13: US UNIT SALES OF NEW CARS VS. LIGHT-TRUCKS, 1980-2013
- Light-truck sales estimated to increase for fifth consecutive year
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- Figure 14: US unit sales of new light-trucks, 2009-14
- Passenger car sales estimated to be relatively light
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- Figure 15: US unit sales of new cars, 2009-14
- Toyota Camry still best-selling car despite no growth in 2013
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- Figure 16: Top 10 New Car Models, 2013 unit sales
Market Drivers
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- Key points
- Aging US fleet creates future demand
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- Figure 17: Average age of light Vehicles, 2002-13
- Miles driven has plateaued
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- Figure 18: TOTAL VEHICLE MILES TRAVELED, 1970-2013
- Number of new car dealerships stabilizing at lower levels
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- Figure 19: Number of dealerships selling new cars, January 2013-January 2014
- Rise in median home prices increases vehicle demand
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- Figure 20: Median existing home prices vs. new light vehicle sales, 2002-13
- High but stabilizing gas prices influence preferences
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- Figure 21: All grades all formulations retail gasoline prices, 2000-14
- Record-setting year for recalls has ironic upside
Leading Companies
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- Key points
- Top three brands represent nearly 40% market share
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- Figure 22: Top 13 brands, 2013 unit sales, 2013
- GM leading manufacturer
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- Figure 23: General Motors Market share and unit sales, 2002-13
- Ford sells nearly 2.5 million vehicles
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- Figure 24: Ford market share and unit sales, 2002-13
- Toyota rebounds sharply from 2011 recall and production difficulties
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- Figure 25: Toyota market share and unit sales, 2002-13
- Chrysler sales up nearly 100% since 2009
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- Figure 26: Chrysler Market share and unit sales, 2002-13
- American Honda market share stagnant
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- Figure 27: Honda market share and unit sales, 2002-13
- Nissan doubles market share in 10 years
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- Figure 28: Nissan Market share and unit sales, 2002-13
- Volkswagen offers Diesel, hybrid options
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- Figure 29: Volkswagen market share and unit sales, 2002-13
- Hyundai-Kia sales stagnate
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- Figure 30: Hyundai/Kia Group market share and unit sales, 2002-13
- Subaru fastest growing of major automakers
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- Figure 31: Subaru market share and unit sales, 2002-13
Innovations and Innovators
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- Talking cars foreshadow latest in safety innovation
- Tesla readies Model X
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- Figure 32: Tesla Model X
- Apple, Google enter integrated dashboards
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- Figure 33: Apple CarPlay
- Figure 34: Android Auto
Marketing Strategies
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- Overview of the brand landscape
- Product placements in film promote specific models
- Chevrolet Camaro co-stars in new Transformers film
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- Figure 35: Chevrolet tv ad, “transformers Camaro: Transforming your Everyday,” June 2014
- Dodge borrows Anchorman’s Ron Burgandy as spokesman
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- Figure 36: Dodge tv ad, “It Comes Standard”, October 2013
- World Cup provides room for official (and unofficial) sponsors
- As official World Cup sponsor, Hyundai focuses on passion of fans
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- Figure 37: Hyundai tv ad “because futbol,” June 2014
- Not official sponsor, Volkswagen finds way to score at World Cup
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- Figure 38: Volkswagen tv ad “Play by Play,” June 2014
- Nissan jumps on current events with Tweet
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- Figure 39: Room for all the family, Nissan tweet, 2014
Social Media
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- Key points
- Market overview
- Key social media metrics
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- Figure 40: Key performance indicators, selected car brands, Aug 18, 2013-Aug 17, 2014
- Brand usage and awareness
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- Figure 41: Brand usage and awareness of car brands, May 2014
- Interaction with brands
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- Figure 42: Interaction with car brands, May 2014
- Leading online campaigns
- ‘Selling’ cars through social media
- Social media for social good
- Marketing to Millennials
- Driving fan engagement through hashtags
- What we think
- Online conversations
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- Figure 43: Online mentions, selected car brands, Aug 18, 2013-Aug 17, 2014
- Where are people talking about car brands?
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- Figure 44: Mentions by page type, selected car brands, Aug 18, 2013-Aug 17, 2014
- What are people talking about online?
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- Figure 45: Mentions by topic of conversation, selected car brands, Aug 18, 2013-Aug 17, 2014
New Car Buyers
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- Key points
- Men more likely planning to buy a vehicle
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- Figure 46: Do you plan to buy a vehicle in the next three years, by gender, May 2014
- Majority of middle-income households planning to buy a vehicle
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- Figure 47: Do you plan to buy a vehicle in the next three years, by household income, May 2014
- Millennials most likely to be planning to buy a vehicle
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- Figure 48: Do you plan to buy a vehicle in the next three years, by generations, May 2014
- Consumers with new car in household more likely planning to buy a vehicle
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- Figure 49: Do you plan to buy a vehicle in the next three years, by new, used or CPO vehicles already in household, May 2014
- Middle-aged respondents go bigger
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- Figure 50: Vehicle types already owned by new car intenders, by generations, May 2014
- Consumers expect to pay average of $413.70 per month for next vehicle
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- Figure 51: Expected monthly payment of next new, used and CPO car, May 2014
New Car Buyers – Who, When, and Why
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- Key points
- Three quarters of men will purchase solo
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- Figure 52: Who will purchase the next new vehicle, by gender, May 2014
- Many married couples buy jointly
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- Figure 53: Who will purchase the next new vehicle, by marital status, May 2014
- Millennials more likely to buy now
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- Figure 54: Approximately when will the next new vehicle purchase occur, by generations, May 2014
- Aging vehicle primary driver for new purchase
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- Figure 55: Reasons for wanting another vehicle, by new vehicle intenders, by generations, May 2014
New Car Buyers – Vehicles Considered
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- Key points
- Midsize car most popular body style
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- Figure 56: New vehicle purchase intenders by vehicle body style consideration, by household income, May 2014
- Crossovers of all types popular with Millennials
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- Figure 57: New vehicle purchase intenders by vehicle body style consideration, by generations, May 2014
- Crossovers/SUVs by far family car of choice
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- Figure 58: New vehicle purchase intenders by vehicle body style consideration, by new vehicle purchase intenders by vehicle type consideration, May 2014
- Electric engines still lag hybrids
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- Figure 59: Alternative fueled vehicle considerations by new vehicle intenders, May 2014
Car Buyers – New, Used, or CPO?
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- Key points
- Seven in 10 vehicle intenders plan to buy new
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- Figure 60: Car buyers who expect to purchase a new vehicle, by gender, May 2014
- CPO could provide opportunity among less affluent
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- Figure 61: Car buyers who expect to purchase a new vehicle, by household income, May 2014
- Those who buy new plan to keep buying new
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- Figure 62: Car buyers who expect to purchase a new vehicle, by new, used or CPO vehicles already in household, May 2014
- Used/CPO vehicles most often purchased as family car
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- Figure 63: Car buyers who expect to purchase a new vehicle, by new purchase intenders by vehicle type consideration, May 2014
- Majority of respondents have already bought new
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- Figure 64: New, used or CPO vehicles already in household, May 2014
Price Paid For Most Recently Purchased Vehicle
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- Key points
- Average spend on most recently purchased vehicle is $26K
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- Figure 65: Price of recently purchased vehicle, May 2014
- Average spend on most recently purchased new car is $30K
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- Figure 66: Price of recently purchased vehicle, by car buyers who expect to purchase a new vehicle, May 2014
- Average spend on most recently purchased family car is $28K
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- Figure 67: Price of recently purchased vehicle, by new purchase intenders by vehicle type consideration, May 2014
- Amount spent on vehicle closely related to household income
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- Figure 68: Price of recently purchased vehicle, by household income, May 2014
- Parents spend more on vehicles
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- Figure 69: Price of recently purchased vehicle, by presence of children in household, May 2014
- Nearly half of buyers focus on total price
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- Figure 70: Monthly payment or total price, by generations, May 2014
Incentives and Service Features Important To New Car Intenders
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- Key points
- Consumers want to avoid future maintenance costs
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- Figure 71: Incentives and service features important to new vehicle intenders, by generations, May 2014
Styling and Comfort Features Important to New Vehicle Intenders
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- Key points
- Power equipment and style are most important to new car intenders
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- Figure 72: Styling and comfort features important to new vehicle intenders, by gender, May 2014
- Interior/exterior focus of older car buyers
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- Figure 73: Styling and comfort features important to new vehicle intenders, by generations, May 2014
- Interior/exterior style important for luxury car buyers
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- Figure 74: Styling and comfort features important to new vehicle intenders, by new purchase intenders by vehicle type consideration, May 2014
Tech and Audio Features Important to New Vehicle Intenders
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- Key points
- Smartphone connectivity can influence new car buyers
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- Figure 75: Tech and audio features important to new vehicle intenders, by gender, May 2014
- Not all tech and audio features driven by income
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- Figure 76: Tech and audio features important to new vehicle intenders, by household income, May 2014
- Nearly half of Millennials want smartphone connectivity
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- Figure 77: Tech and audio features important to new vehicle intenders, by generations, May 2014
Safety Features Important to New Vehicle Intenders
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- Key points
- Safety features highly influential among women
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- Figure 78: Safety features important to new vehicle intenders, by gender, May 2014
- Millennials overlooking less exciting safety features
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- Figure 79: Safety features important to new vehicle intenders, by generations, May 2014
Interest in Developing Technologies, Functionality, Features and Services When Purchasing Next New Car
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- Key points
- Wireless recharging appeals consumers of all ages and genders
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- Figure 80: Interest in developing technologies, functionality, features and services when purchasing next new car, by gender and age, May 2014
- Opportunity to offer developing technologies in affordable cars
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- Figure 81: Interest in developing technologies, functionality, features and services when purchasing next new car, by household income, May 2014
- Parents want features for safety and convenience
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- Figure 82: Interest in developing technologies, functionality, features and services when purchasing next new car, by presence of children in household, May 2014
Impact of Race and Hispanic Origin
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- Key points
- Black and Hispanic consumers provide large opportunity
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- Figure 83: Price of recently purchased vehicle, by race/Hispanic origin, May 2014
- Nearly three quarters of Hispanics expect to buy in next year
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- Figure 84: Approximately when will the next new vehicle purchase occur, by race/Hispanic origin, May 2014
- Black car buyers want better fuel economy, more enjoyable drive
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- Figure 85: Reasons for wanting another vehicle, by new intenders, by race/Hispanic origin, May 2014
- Blacks overwhelmingly seek passenger cars
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- Figure 86: New vehicle purchase intenders by vehicle body style consideration, by race/Hispanic origin, May 2014
- Opportunity to market CPO vehicles to Blacks, new cars to Hispanics
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- Figure 87: Car buyers who expect to purchase a new vehicle, by race/Hispanic origin, May 2014
- Monthly payment critical for both Blacks and Hispanics
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- Figure 88: Monthly payment or total price, by race/Hispanic origin, May 2014
- Monthly cost considerations rate high among Blacks and Hispanics
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- Figure 89: Incentives and service features important to new vehicle intenders, by race/Hispanic origin, May 2014
- Hispanics want personalized, smartphone experience
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- Figure 90: Tech and audio features important to new vehicle intenders, by race/Hispanic origin, May 2014
- Blacks want safety features which make car easier to drive
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- Figure 91: Safety features important to new vehicle intenders, by race/Hispanic origin, May 2014
Appendix – Other Useful Consumer Tables
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- New car buyers
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- Figure 92: Number of household vehicles owned by new car intenders, May 2014
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- Figure 93: Who will purchase the next new vehicle, by gender and age, May 2014
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- Figure 94: Approximately when will the next new vehicle purchase occur, May 2014
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- Figure 95: Approximately when will the next new vehicle purchase occur, by gender and age, May 2014
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- Figure 96: Reasons for wanting another vehicle, by new vehicle intenders, May 2014
- New-car buyers – Vehicles considered
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- Figure 97: New vehicle purchase intenders by vehicle type consideration, May 2014
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- Figure 98: New vehicle purchase intenders by vehicle type consideration, by marital status, May 2014
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- Figure 99: New vehicle purchase intenders by vehicle type consideration, by generations, May 2014
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- Figure 100: New vehicle purchase intenders by vehicle type consideration, by presence of children in household, May 2014
- Car buyers – New, used, or CPO?
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- Figure 101: Car buyers who expect to purchase a new vehicle, by presence of children in household, May 2014
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- Figure 102: New, used or CPO vehicles already in household, by household income, May 2014
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- Figure 103: New, used or CPO vehicles already in household, by car buyers who expect to purchase a new vehicle, May 2014
- Price paid for most recently purchased vehicle
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- Figure 104: Price of recently purchased vehicle, by generations, May 2014
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- Figure 105: Monthly payment or total price, May 2014
- Incentives and service features important to new car intenders
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- Figure 106: Incentives and service features important to new vehicle intenders, May 2014
- Tech and audio features important to new vehicle intenders
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- Figure 107: Tech and audio features important to new vehicle intenders, by new purchase intenders by vehicle type consideration, May 2014
- Safety features important to new vehicle intenders
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- Figure 108: Safety features important to new vehicle intenders, by marital status, May 2014
- Interest in developing technologies, functionality, features and services when purchasing next new car
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- Figure 109: Interest in developing technologies, functionality, features and services when purchasing next new car, by generations, May 2014
- Top vehicle brands considered
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- Figure 110: Top vehicle brands considered for next new car purchase, May 2014
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- Figure 111: Top vehicle brands considered for next new car purchase – Any choice, by household income, May 2014
- Impact of race and Hispanic origin
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- Figure 112: Number of household vehicles owned by new car intenders, by race/Hispanic origin, May 2014
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- Figure 113: Vehicle types already owned by new car intenders, by race/Hispanic origin, May 2014
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- Figure 114: New, used or CPO vehicles already in household, by race/Hispanic origin, May 2014
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- Figure 115: Who will purchase the next new vehicle, by race/Hispanic origin, May 2014
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- Figure 116: Styling and comfort features important to new vehicle intenders, by race/Hispanic origin, May 2014
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- Figure 117: Top vehicle brands considered for next new car purchase – Any choice, by race/Hispanic origin, May 2014
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- Figure 118: Interest in developing technologies, functionality, features and services when purchasing next new car, by race/Hispanic origin, May 2014
Appendix – Social Media
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- Figure 119: Key social media indicators of selected car brands, August 2014
- Online conversations
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- Figure 120: Online mentions, selected car brands, Aug 18, 2013-Aug 17, 2014
- Brand usage or awareness
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- Figure 121: Brand usage or awareness, May 2014
- Figure 122: Ford usage or awareness, by demographics, May 2014
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- Figure 123: Toyota usage or awareness, by demographics, May 2014
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- Figure 124: Chevrolet usage or awareness, by demographics, May 2014
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- Figure 125: Honda usage or awareness, by demographics, May 2014
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- Figure 126: Nissan usage or awareness, by demographics, May 2014
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- Figure 127: Hyundai usage or awareness, by demographics, May 2014
- Activities done
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- Figure 128: Activities done, May 2014
- Figure 129: Ford – Activities done – I have looked up/talked about this brand online on social media, by demographics, May 2014
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- Figure 130: Ford – Activities done – I have contacted/interacted with the brand online on social media to, by demographics, May 2014
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- Figure 131: Ford – Activities done – I follow/like the brand on social media because, by demographics, May 2014
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- Figure 132: Ford – Activities done – I have researched the brand on social media to, by demographics, May 2014
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- Figure 133: Toyota – Activities done – I have looked up/talked about this brand online on social media, by demographics, May 2014
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- Figure 134: Toyota – Activities done – I have contacted/interacted with the brand online on social media to, by demographics, May 2014
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- Figure 135: Toyota – Activities done – I follow/like the brand on social media because, by demographics, May 2014
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- Figure 136: Toyota – Activities done – I have researched the brand on social media to, by demographics, May 2014
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- Figure 137: Chevrolet – Activities done – I have looked up/talked about this brand online on social media, by demographics, May 2014
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- Figure 138: Chevrolet – Activities done – I have contacted/interacted with the brand online on social media to, by demographics, May 2014
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- Figure 139: Chevrolet – Activities done – I follow/like the brand on social media because, by demographics, May 2014
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- Figure 140: Chevrolet – Activities done – I have researched the brand on social media to, by demographics, May 2014
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- Figure 141: Honda – Activities done – I have looked up/talked about this brand online on social media, by demographics, May 2014
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- Figure 142: Honda – Activities done – I have contacted/interacted with the brand online on social media to, by demographics, May 2014
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- Figure 143: Honda – Activities done – I follow/like the brand on social media because, by demographics, May 2014
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- Figure 144: Honda – Activities done – I have researched the brand on social media to, by demographics, May 2014
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- Figure 145: Nissan – Activities done – I have looked up/talked about this brand online on social media, by demographics, May 2014
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- Figure 146: Nissan – Activities done – I have contacted/interacted with the brand online on social media to, by demographics, May 2014
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- Figure 147: Nissan – Activities done – I have researched the brand on social media to, by demographics, May 2014
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- Figure 148: Hyundai – Activities done – I have looked up/talked about this brand online on social media, by demographics, May 2014
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- Figure 149: Hyundai – Activities done – I have contacted/interacted with the brand online on social media to, by demographics, May 2014
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- Figure 150: Hyundai – Activities done – I have researched the brand on social media to, by demographics, May 2014
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Appendix – Trade Associations
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