Helping Auto Dealers Maximize Summer Sales Opportunities
MEMORIAL DAY WEEKEND IN THE UNITED STATES MARKS THE UNOFFICIAL KICKOFF TO THE SUMMER CAR SALES SEASON, with car dealerships nationwide using the holiday weekend to attract customers with incentives, deals and promotions. Much like in recent years though, affordability remains a key issue as the industry faces challenges in maintaining sales volumes due to high prices and interest rates. While there are some signs that affordability pressures may ease as summer begins, dealers need to maximize every opportunity this Memorial Day weekend to get a jump on the summer selling season.
In an ongoing competitive automotive landscape, understanding a consumer's true financial capacity is paramount for dealerships seeking to thrive. This is where Equifax can help: by providing additional insights like financial characteristics or consumer behaviors so dealers can better identify the most favorable consumers.
“More data drives better decisions, and marketers having access to valuable insights including detailed financial characteristics, aggregated credit scores, and purchasing behaviors of potential customers enables dealerships to identify individuals who have the financial means to make a purchase in real-time or are actively in the market for a vehicle.” said Angelica Jeffreys, Vice President Sales, Enterprise Alliance - Automotive for Equifax.
A data-driven approach provides marketers with a strategic advantage, enabling them to identify in-market consumers who can afford to buy cars with unparalleled accuracy. By embracing measured data solutions, dealerships can unlock new opportunities, streamline marketing efforts, and ultimately drive growth. Meanwhile, Dealers, OEMs and agency partners can enhance their creative campaign investments by identifying the right customers who have spending power now.
In an industry driven by competition and evolving consumer preferences, taking a data-driven approach is no longer optional—it's essential for success and can help ensure that the holiday weekend serves as a launchpad for a successful summer car sales season.
To learn more about the unique wealth, economic, and credit-based insights that can create meaningful interactions across the car buying journey, visit here.