It’s true! The slumping house market is affecting car sales… to the tune of 19%. According to CNW Marketing Research:
“19 percent of potential buyers are abandoning or postponing their plans to purchase a new vehicle this year - double the percentage in 2006.”
That’s almost 1 out of every 5 potential customers!
It’s widely known that newspaper advertising is not generating as many leads as it used to. But no one knew it was this bad.
According to Fitch Ratings, automotive advertising ratings have plunged 20%.
Now this doesn’t mean every dealer should totally bail out of newspaper advertising. What it does mean is that dealers should really be investing in new avenues to reach consumers.
When was the last time you tried something different to find new customers?
