It is no secret that the automotive industry has seen rapidly rising prices the past couple years. Everything from the prices of new and used cars to fuel prices are continuing to rise to date. In fact, the price of used cars has risen by more than forty percent since January of last year. So, what does this mean for dealer advertising as a whole? How has the price index affected automotive demand?
Having experienced uncertainties of the past couple years, consumers are less likely to take financial risks than before. This includes being impulsive with larger purchases, such as buying a car, especially when prices are much higher than previous years. Most of the time a general rule of thumb is that when prices rise significantly, consumers usually attempt to cut back on their usage of that good or service. On a necessity such as a vehicle or gas purchases, this may not always be the case, but should be kept in mind. In the two most recent years specifically, we have seen prices of new and used cars rise, but still have more demand than is able to be immediately fulfilled.
To keep up with the market, it is an absolute necessity that your advertising game is top tier. In a market that changes so rapidly and a more cautious buyer at hand, your advertising should keep you ahead of the competition, in every aspect. Not only should your target consumers know your name or who you are, there should be an urgency and need to shop your store first. Additionally, your advertising plans should be able to evolve with the changing market. Being flexible and on your toes is a must in today’s world, with new trends and habits being introduced every single day. So, to stay ahead of the competition and advertising game, commit to an agency with a track record of success even through the past couple years. DeAngelis advertising not only has expertise in digital AND traditional advertising, there are real-world results to prove that our methods work! Leading the industry in powerhouse creative, media buying power, fresh advertising campaigns, and results, DeAngelis Advertising will bring a custom onsite market analysis to you. Call 800.318.5047 to take a step towards your advertising success!