Black Friday Means Big Auto Sales. Here’s Why.
OEMs have caught on that Black Friday isn’t just for retail stores: Last year, GM offered a “Black Friday Cash” discount on all models. Ford focused their efforts on their website with a $1,000 prepaid MasterCard in honor of the holiday. Hyundai promoted 0% financing for 72 months, and Chrysler found that Black Friday means big auto sales: in fact, it was their fifth-busiest sales day of the year.
In-market shoppers are likely to purchase on Black Friday
Kelley Blue Book continues to estimate an increased amount of sales each November due to Black Friday sales. In fact, according to a 2009 Kelley Blue Book Market Intelligence survey of In-Market Car Shoppers, 55% of car shoppers said they were somewhat likely to purchase a new car on Black Friday, and 12% said they were very/extremely likely.
Moreover, when asked how the availability of discounts and incentives on Black Friday would impact their purchase decision and purchase timeframe, 32% of in-market shoppers said they would definitely purchase a new car sooner than they had planned.
However, these shoppers reported that they aren’t aware of any Black Friday-specific discounts offered by auto manufacturers or dealers. According to the study, only 4% said they knew of any specials.
How can dealers drive traffic?
Our advice? Get creative!
Jim Coleman Toyota opened his doors at 6 AM last year and offered a shuttle to the mall next door to help shoppers avoid the Black Friday parking mayhem.
Sterling McCall Toyota in Houston has a tradition where car-shoppers show up at dawn and get in the unlocked used car of their choice. Then, the used car manager assigns each car a Black Friday discount for the customer to take or leave.
Remember that most Black Friday shoppers are hitting door busters early in the morning. They’ll likely be at Best Buy and the nearest mall from 5 AM to noon, so why not use conquest email or Facebook Advertising to send out a coupon for a free oil change for anyone who visits your service department between 3 PM and 6 PM?
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