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Monday, January 17, 2011

Factlets about demographics and the US car industry



Did you know that in the US, from 2007 to 2010, the average age of a new car buyer rose from 52 to 56?

Did you know that Lincoln's average buyer age went past 60 in that same time frame?

Did you know that Lincoln has hired "Mad Men" actor John Slatterly for its new car ads?

The marketing director of Lincoln said: “Fifty-somethings can relate to him, but he's also cool to people in their 40s." I have to take your word for that.

The article ends with this statement:
Overall, other car companies would be smart to do likewise and embrace the Baby Boom generation and realize their buying potential. There's no shame in letting this demographic define your brand if the strategy is executed well, especially when this dynamic and important group has the potential to make -- or break -- your company's profits.
Seems a reasonable conclusion. Dick Stroud

1 comment:

Robert Walker said...

I'd be interested to see if, with an aging population, the over-50 crowd is more likely to purchase new, or used cars. That could be great info for car dealers to have.

Robert Walker
RetirementHomes.com