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Horror Chip Shortage - 48% to delay purchase, brand defections and more

Jim K

Full Sticker
May 5, 2019
42
50
First Name
Jim
Spotted this from KBB today:

Horror Chip Shortage Effects as Nearly Half of Car Buyers Ready to Delay Purchase

Some of the data is pretty obvious by now, but speaks to the importance of and difficulties with brand and dealer loyalty/retention. Also provides some great hints on what your messaging should be.
  • 48% of buyers will delay purchase
  • 25% say will switch brands
  • 18% say will switch category
  • 35% say will switch from import to domestic
  • 35% will pay above MSRP ($5,600 more based on the KBB avg. transaction prices)
  • 75% will drive 50 to 200 miles to get what they want/can
When the chips are down (sorry :rolleyes:) dealers need to rethink what they're saying to whom, how, where and when. More details and data in the attached PDF.
 

Attachments

  • horror-chip-shortage-effects-as-nearly-half-of-car-buyers-ready-to-delay-purchase-170310.pdf
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