Author: Annette Malave, SVP/Insights, RAB
The role that vehicles play in the lives of consumers has shifted, and while they were once considered solely as a means of transportation, they quickly became a place to escape or for “me” time.
Supply chain issues for the auto industry – from vehicles to microchip shortages – are impacting the industry. However, while these issues might be considered a hinderance to sales, the opposite is true. According to a Kelly Blue Book (KBB) survey, 87% of consumers are aware that these issues are impacting both domestic and imported vehicles.
So how are consumers reacting? Seventy-three percent of consumers know that they will most probably pay a higher price at a dealership. However, more than 60% of consumers are not planning on holding off on purchasing a vehicle, based on the KBB survey results.
Consumers are all anxious to hit the road – in a new vehicle. The March 2021 Nielsen consumer survey found that while adults are planning on buying/leasing a new/used vehicle this year, heavy radio listeners are 33% more likely to do so. In fact, 77% of adults who have already resumed/rescheduled their vehicle purchase are radio listeners, according to the 2021 April COVID-19 study from MRI-Simmons.
Broadcast radio listeners consider their vehicles a safe haven, with 86% planning on driving the same or more due to concerns about travel, based on MRI-Simmons data. Vehicle owners view their vehicle as an extension of their home or part of their family. Broadcast radio listeners are no different, and have unique personal perspectives and emotional attitudes about their vehicles.
When it comes to automotive, adults broadcast radio listeners:
- Believe that the vehicle a person owns says a lot about them. (49%)
- Are loyalists, and they stick with their brands. (47%)
- Seek out vehicles with bold, innovative designs that stand apart from others. (47%)
- Want vehicles that offer spirited performance and powerful acceleration. (44%)
- Go for a drive by themselves to gain a sense of freedom. (21%)
Consumers are looking forward to hitting the road again, and when it comes to radio listeners, some have already resumed the hunt for their next vehicle. Radio listeners have a personal and emotional view of the vehicles they purchase and own, especially during these times. When advertising to radio listeners, advertisers in this category should appeal to their vehicular personal perspectives and emotional attitudes. It is not always about the price, but about the emotional connection they have with their vehicle.