As general consumers, not all of us have the luxury of choosing precisely when we want to purchase a new car. If your current vehicle breaks down, gets stolen, or is totaled after an accident, you may not have a choice in timing your new car purchase. For those of you that are not in a situation where buying a car immediately is necessary, there are better times to purchase a vehicle that will allow you to save even more.
Most consumers and dealers agree that the best time of the year to purchase a new car, truck or SUV is the week between Christmas and New Year. According to realcartips.com, the majority of people are not car shopping during this time, and dealerships are trying to make their end-of-the-year sales goals. In addition, manufacturers usually offer large rebates just before the end of the year to clear out any remaining models. This is an excellent time to purchase a leftover model.
If you are interested in the newly released models, January and February are also great months to buy. Sales at car dealerships are typically slower during this time, which means you can take advantage of lower prices before manufacturers raise the vehicle prices as the year goes on. In fact, Presidents Day is a major holiday for new car shopping! This holiday occurs on the 3rd Monday of February, and sales are usually slower and the inventory is fully stocked.
Holidays are always an excellent time to purchase a new car. The most known are the Christmas and New Years holidays, but also 4th of July, Memorial day, and Thanksgiving Weekend are a great time to buy. Most dealerships and manufacturers will offer captivating incentives during all of these holidays.
How do these consumer car buying trends translate to dealers? Digital advertising for dealerships and other industries have costs that typically spike during these peak car sale holidays, and competition is much more fierce. Tier 1 advertisers (for example, Manufacturers like Toyota) may bid up on keywords to create more interest and demand, which may result in an increased cost on a keyword level for dealerships. To stay ahead of the competition, dealerships must differentiate themselves from the rest, offering customers unique offers or advantages that help them stand out from the others. Because competition is higher and ad space is limited, increasing your paid search budget will ensure your conversions stay steady.
Does your dealership stand out from the competition during peak car selling times? Does your dealership allocate their digital advertising budget according to these peak times of the year? You cannot continue to spend the same amount and expect different results, especially during these peak times. To find out more about digital advertising for your dealership during peak sales times, get in touch with one of the experienced automotive digital advertising consultants at CHD.
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