Imagine you have two email marketing campaigns deployed for your dealer customer. In campaign #1 the creative has excellent graphics, content and layout with a wonderful message about the product. In campaign #2 you have the same features; however, there is a hyperlink for the prospect to provide personal information to receive special new car sales or service offers as well as learn more about the product via the dealer's website.
While both campaigns have the ability to perform well wouldn’t it be great to have hot leads flowing into your inbox at the dealership? This can happen and does happen when a campaign is setup using method number two.
Lead Generation and Email Marketing are not new forms of gaining business, however utilizing a combination of the two methods allows the dealer to have leads generated and distributed to them using the technology of the Internet. This is a very powerful medium as automotive marketing agencies are now required to justify marketing spend for their dealer clients and track how well a campaign is performing.
The combination method in which to do this is relatively simple and can be developed with a backend landing page. Once the consumer clicks on the link the system can redirect them to the landing page or to a social media site where they are able to complete an online request or information form. Tech savvy companies are also setting up pop-up information boxes in which the individual submits information prior to getting to the landing page.
The benefits to using this type of methodology include:
- Allows for follow-up and relationship building with the prospect
- Allows for ownership of the prospect email information which follows CAN-SPAM regulations
- Conversion rates on leads received often have a higher conversion success rate than cold contacts because the prospect is prequalified
- Provides valuable metrics for the dealer about who is clicking through the pages. This helps to better budget the return on investment based on the lead conversion rate
Whether or not dealers embrace this type of methodology remains to be seen; however, if this combination shows success and can engage customers and increase customer loyalty in a relevant way, I see no reason why it won't continue to grow in popularity.
Please let me know your thoughts on this topic and perhaps the next evolution of lead generation: social media and mobile.
Posted by Mike Sharkey, Account Manager, Automotive Retail Solutions, Polk (08.17.2010)
Everyone likes to talk about making the pie bigger and creating win/win situations - which is a great objective, whenever possible. The reality is it isn’t always possible and sometimes there is only one winner. In fact, auto dealers live in this highly competitive world each day. Because of this situation, the smart dealer is always trying to improve so he can provide a better shopping experience and overall value proposition than the store down the street. After all, the store down the street may be the same brand - in which case the product is exactly the same, or if it is a different brand, the store will still likely have a similar offering in the same segment. A dealer has to make his interaction with his prospects and customers - both online and in the store - immediate, frequent, and relevant.
Lead Marketing–which is all about using analytics to understand and drive the ideal message to the prospect before they even consider your competition–can insure that a dealer always puts his best foot forward. Rather than being a victim of all the various things that can go wrong–salespeople not following up, poor vehicle and message presentation, difficulty contacting the prospect, etc.–the dealer can take control and use lead marketing to drive the ideal message immediately to the prospect and pull him/her into the store. Lead Marketing stops short of being a silver bullet, you still need to improve your in-store process however you can, but lead marketing is highly effective and provides the competitive edge that is critical to a dealer making their monthly number or not. I understand not everyone is sold on the concept of lead marketing yet, but at the very least you need to understand it and consider it as a means to gain a competitive edge and win the race. Ward's Dealer Business provides a great overview via their
online publication. Check it out and feel free to share your thoughts.
Posted by Mike Spadafore, Manager, Consumer & Commercial Portfolio, Polk (07.19.2010)
A wise neighbor once told me, "Everyone wants to get a house in the best neighborhood, but then they don't want anyone else to get in." The same may apply to the luxury vehicle market. Everyone would like to drive a Mercedes-Benz, Lexus, BMW, or similar vehicle, but then once we have it, we would prefer that no else is able to get one. This speaks to exclusivity, a core attribute of luxury products. If a car, jewel, piece of clothing, or whatever, is commonplace, it has little inherent attraction. A Rolls-Royce is much more valuable, much more craved, than a Mercedes-Benz, in part because you rarely see a Rolls on the road but Mercedes-Benz vehicles are much more prevalent.
Managers of luxury makes are always trying to balance this need for exclusivity with the need for volume. They know that exclusivity – and the accompanying image - are hugely important, but the management teams at several luxury makes – including Lexus, BMW and Mercedes-Benz – also know that being the most popular luxury marque is a valuable talking point too.
Luxury management teams are continually making decisions about how much volume to strive for, and what impact these efforts will have on their makes' images and exclusivity. Lexus has achieved leading retail volumes in the U.S. through frequent re-designs, leadership positions in new trends such as crossovers and hybrids, and a reputation for unequalled quality and reliability. Lexus has not resorted – so far – to moving downstream in price below the RX and ES/IS products. BMW has used different methods to become one of the three luxury volume leaders. It has split the U.S. luxury market into mini-segments and offered products in each of these, including the X6 and the 5-Series Gran Turismo. BMW arguably has moved downstream in price as well, marketing the 1-Series and soon bringing in a vehicle slotted under the X3.
Mercedes-Benz has stayed close to its rivals on retail volume by offering a wide array of series and powertrains within most models. Today the C-Class is the lowest-priced car available at a Mercedes-Benz store, and the brand is viewing the lower end cautiously after struggling with the C230 hatchback several years. Other luxury brands have also put their toes in the waters of low-priced luxury, including Volvo with the Mitsubishi-designed S40, Jaguar with the X-Type, Cadillac notoriously with the Cimmaron, BMW with the 318ti, and Acura with the RSX.
We have witnessed their victories and struggles as the luxury managers deal with the challenge of balancing exclusivity and image with volume. This delicate maneuvering is likely to continue.
Posted by Tom Libby, PolkInsight Advisor, Polk (07.19.2010)
The compact premium (aka small luxury) sedan segment is an important vehicle category. It's one of the largest premium segments because its vehicles are among the lowest priced, and more importantly -- it acts as a bridge between the non-luxury and luxury sections of the new vehicle market. The compact premium sedan arena is the cut-throat battlefield where the luxury marques use enticing incentives such as low APR programs, artificially high residuals, and free maintenance, among others, to lure Camry, Avalon, Maxima, Altima, Accord and Malibu buyers to move up a notch and drive (and park in their driveways) a Lexus, BMW, Mercedes-Benz, etc. The management teams of these premium makes are well aware that if they can successfully put a non-luxury driver into a small luxury sedan, eventually these new luxury owners will want to move up again, this time to a midsize or large luxury vehicle. And these larger high-end cars are the biggest money makers for the OEMs.
So, who's winning in this segment? Well, it depends. It depends from what perspective you view the segment. If you look at the individual models in the segment, there is no contest. The BMW 3-Series is the segment sales leader, and has been for many years. Registration data for the first four months of this year show nothing has changed - the 3-Series leads its nearest rival, the Infiniti G, by more than 10,000 units April 2010 CYTD, which equates to a 30,000+ unit gap through twelve months. The 3-Series has attained this leadership role through, among other things, coming in several different body types, offering a wide choice of powertrains, offering the exhilarating M3 performance version, creating over the years a huge owner base, offering attractive lease terms, and frequently being re-styled. Through all these actions, BMW has infused the 3-Series with the image and stature that are the envy of the luxury market. Many 3-Series competitors claim they are better than the 3-Series on one or more attributes (which in and of itself promotes the 3-Series), but there is only one 3-Series.
But, the story isn't that simple. If one looks at the segment at the make level, BMW actually plays the role of bridesmaid. Lexus has managed to offer three products in this segment, each of which appeals to a different buyer profile. And the combined registration total for all three Lexus products edges out the 3-Series, though by less than 900 units through 4 months (January-April 2010). Acura, Infiniti, Mercedes-Benz and Audi follow, but their volumes don't come close to those of the two leaders.
While BMW has successfully crafted an iconic model to which all others aspire, Lexus simultaneously has been able to sell more small luxury sedans than any other brand by slicing the segment into three distinct sub-categories and offering an appealing product for each one.
Posted by Tom Libby, PolkInsight Advisor, Polk (07.09.2010)
I would like to throw a question out to this community – does the automotive marketing "discipline" lack focus? Let me give you some background for my question...
Earlier this month, I had the opportunity to attend and also speak at the Thought Leadership Summit (TLS) 2010 Automotive Customer Centricity Summit. The topics included:
- The Near Term Future in the Auto Space (Thilo Koslowski, Gartner)
- Integration of CRM Data and Transactional Information (Chris Cawston, SCI)
- Hyundai Motor America Positioning and Growth (David Zuchowski, Hyundai)
- Localized, Data Driven Marketing (Lucette Mercer, Comcast)
- The Evolution of Lead Scoring (Yours truly!, Polk)
It was an excellent experience and as always, I enjoyed spending time with others closely engaged in the automotive marketing space. This is the fourth TLS conference I have attended, having chaired the event the previous two years. I have participated in and presented at many similar conferences. Invariably, I have seen many interesting marketing ideas from/for OEMs, agencies, and dealers.
What one rarely sees, is any research or strategy or plan detailing what activities are going to have the most impact on the consumer and generate vehicle sales and/or service. For example – is it more important to run a highly efficient owner data management and communications program, or is it more important to have well trained staff within the dealership that know how to nurture and close the sale?
So, to restate the question, what should be the focus of all these billions of dollars that are spent on automotive marketing, assuming all players – OEMs, dealers, agencies, and vendors -- are working together? (I know it is a huge, somewhat unrealistic assumption, but just go with it for now...) I am not asking which media is more effective or how should we approach social networking -- I want to know what, in the whole process of driving consumer interest and sales, at all levels from the OEM to the dealer, is the most important activity, maybe what is next most important and why. If this could be discussed, understood, and validated, then those that execute guided by that discipline would win.
Posted by Mike Spadafore, Manager, Consumer & Commercial Portfolio, Polk (06.17.2010)
Last week I had the pleasure of visiting Tesla's headquarters in Palo Alto, CA with a couple of colleagues. Personally, it was the highlight of my week-long business trip in California. To see individuals talking about and planning for the emergence of electric vehicles was very motivating and stimulating. The team we met was engaging, smart, and well-read on the market.
Tesla, for those who don't know much about them, is about building electric vehicles for today and tomorrow. And not golf carts, mind you. Really fast and attractive EVs. Right now, they have a Roadster which is one fun ride (see pic of a couple being "juiced up" - we rode in the orange one in the back of the line - too fun!). Later, they are planning for their Model S Sedan which will be built in the former NUUMI plant where Toyota and GM previously built vehicles.
As Tesla refines their technology to apply it to a global marketplace, their outreach efforts will grow. I've no doubt this enthusiastic company can delight owners and hopefully work the magic of social media, lead management to drive online and offline traffic to their dealer network. And once driven to a store, we understand owners will drive these models like no other vehicle they've had in their driveway. Can anyone say, "Yes I'll pay north of $100k for a plug-in!"?? They sell what they produce. Demand is good. Let's keep watching.
Posted by Lonnie Miller, Vice President, Marketing & Industry Analysis, Polk (06.04.2010)
After the EuroCar Seminar on 20 January 2010, we posted the
top ten questions asked by OEM and OES delegates in attendance. Today I will be answering the last few questions. I hope you have found all of our answers helpful. If you missed the answers to the previous questions, don’t forget to read the answers posted by
Norm Marks regarding marketing and
Thomas Mawick regarding hybrids.
Can you share with us where or from whom dealer network planning can be most improved?All manufacturers in all countries have room for improvement... I believe that in Europe, German networks need restructuring most urgently. Surprisingly, importers suffer most; even if they had better possibilities to align locations strategically, they need to improve dealer performance and network efficiency. The focus of network planning should be on the key metro markets.
Besides the saturated markets, there will be a lot of network planning potential in the eastern European countries, especially Russia.
Do you have a view about the demise of block exemption and the impact this will have? Motor Vehicle Block Exemption Regulation ("BER") is the legislative framework for motor vehicle distribution and servicing agreements in the EU. In place since 2002, current regulation No. 1400/2002 was meant to pave the way for efficient competition within the European markets and caused some significant changes in dealer networks such as discontinuation of location clause or multi-franchising trends.
With the current regulation expiring in a couple of months, the question is valid whether we have to expect further significant changes. The European Commission has not yet approved any new regulation so it's hard to say what the impact will be in detail. But from the recent drafts seen, here are a couple of issues:
- New BER is anticipated in June for service but for sales there will be a transition time until 2013. In my opinion, we must not separate regulations for new vehicle sales and aftersales business. I have outlined how important integrated sales and service functions are for both dealers and manufacturers – Vertical BER does not help this way.
- Vertical BER allows brand exclusivity contracts for up to a 5 year contract period, while automotive BER does not. Multi-brand dealerships are on average underperforming, therefore I have no doubt that manufacturers will make use of this exclusivity option. For many multi-franchise businesses this could mean that recent investments will not pay for themselves.
- And finally a legal issue: the principle of legal certainty is not given for those manufacturers and/or dealers which exceed 30% market share.
Is the decrease in the Japanese dealer network an indication of the direction European dealer networks are going? Indeed we could see some dealer terminations recently and domestic manufacturers already cut their networks in Japan or plan to do so. But it is not quite the same downsizing trend as in Europe or North America; dealer networks in Japan are relatively stable. The reason why we might see a decline in dealer contracts is different from Europe and the US. There are two market characteristics which make Japanese networks unique: first, Japan has a broader range of models in the market and second, dealerships and showrooms are commonly very small. As a result, many manufacturers sell different models through different sales channels. A large domestic OEM used to have two channels. But when they got into financial trouble in the early 2000s they reduced the number of models and scaled back the workforce. Hence both dealers, channel 1 and 2, were in fact close to each other selling the same models. Polk supported a network reduction (consolidation) project in 2005 to identify optimally located channel 1 or channel 2 dealers that could be expanded to handle the sales capacity of two former showrooms.
We hope that our answers have helped you. Feel free to comment if there’s anything you feel we've overlooked or if you have any comments.
If you could not attend the UK seminar,
click here to find out about the upcoming Global Network Planning Trends Webinar.
Posted by Tanja Linken, Team Lead Network Management, Europe, Polk (02.10.10)
There has been much recent news and comment with respect to Europe and the sales environment looking ahead. We know from our own experience that the introduction of scrappage incentives can have positive influence whilst in effect, but can also have negative impacts on future vehicle sales. Further, our own analysis has identified unforeseen side effects relative to these programmes with reductions in loyalty rates. Once these programmes ended the loyalty rates returned to normal – demonstrating just how sensitive repeat buyers can be to these types of programmes.
With scrappage programmes coming to an end in Europe, and market-specific influences such as the VAT increase in the UK – it begs the question as to what we can expect in the years ahead.
We will be reviewing our most recent global automotive forecasts, with a detailed view on European Car Demand at a Polk EuroCar Seminar in the UK upcoming on 20 January 2010. For those attending, we look forward to reviewing these forecasts with you, and for those who cannot attend – we hope you will follow Polk’s Forecasting Dashboards or engage with us directly.
The current and projected sales trends have caused many vehicle manufacturers and dealers to increase their focus and attention on customer retention and related programmes. Customer loyalty and optimal aftersales programmes drive positive customer behaviours, and ultimately dealer and manufacturer profitability – key in the difficult sales environment. We will explore some of the best practices we have seen at the seminar, including such areas as predictive targeting and multi-channel integrated communications. Aftersales and service matter, and there are opportunities to succeed and drive results.
And whilst there is no doubting the impact of customer loyalty and retention, no brand can excel in these times without converting the highest percentage of active prospects. There are proven approaches to prioritising focus that generate demonstrable results in increasing conversion rates – and particularly with respect to internet leads. We will discuss our experience in this area at the seminar, and the broader effects the internet and social media are having on the industry.
These are indeed interesting times, but there remain opportunities for the taking.
Posted by Norm Marks, Vice President & Managing Director, Northern Europe, Polk (01.13.2010)
As I was reading my colleague Mark Pauze's piece on Asian Americans and the U.S Auto Market, the table which listed the Asian OEMs, got my attention. It seemed the Asian Americans were heavily into Asian makes. But how do they compare with the rest of the population?
So I used PolkInsight to pull some numbers:
The average distribution of new registrations in the U.S. is something like 50% Asian, 40% Domestic, and 10% European makes. Both African American households, and Eastern/Western European households in the U.S. fall in line with that average.
The second group based on the percentage distribution, which includes Eurasians, Hispanic, and Pacific Islanders had an average distribution of 60% Asian, 25% Domestic, and 15% European makes.
Finally, the Asians lead a group of their own with 75% Asian, 10% Domestic, and 15% European makes. The interesting part isn't only that Asian Americans buy overwhelmingly Asian makes, but that they are the only group along with Middle Eastern American households where Domestic makes gets the 3rd place in purchase preference.
What does this all mean?
- A dealer candidate may want to think twice before opening a Ford or GM dealer in a prominently Asian American neighborhood
- In terms of lead management, a lead coming to an Asian OEM from an Asian American household might have to be scored a lot higher than any other ethnicity in terms of possibility of a sale
Interesting stuff!
*Data Source: PolkInsight, new retail registrations CYTD August 2009
Percentages are generously rounded and approximate
Posted by Cenk Hepaktan, Global Product Strategist, Polk (11.13.2009)
I attended RVDA last week (Oct 5-9) in Las Vegas. The R. L. Polk & Co seminar which took place on Tuesday, October 5th, titled, "Reach Your Best RV Prospects" had a great turnout. Approximately 45-50 dealers showed up, which is up from last year significantly. We had good traffic at the booth as well, lots of leads to follow up with. Dealers are trying to find smart, effective ways to use what marketing dollars they have. The hot topic this year is any type of Internet marketing to generate traffic, boost web presence and ultimately increase sales. This included discussions on custom web events, social media sites, posting inventory on public sites and email marketing. The RV market appears to be preparing for the rebound!
Posted by Jody Doublestein, Account Manager, Business & Insurance, Polk (10.15.09)
Wow...who could have ever imagined all of the buzz, national and local advertising, dealer showroom traffic, new car sales and "trickle down" business the tremendously successfully "Cash for Clunkers" (or CARS Car Allowance Rebate System) would create? Just one week after officially starting on July 24th, the program is already "out of gas," having spent all of the $1Billon of incentive money behind it. Last week, the House of Representatives quickly passed a bill providing an additional $2 billion in funding to the popular, but already cash-strapped program, but the additional funding faces a tough battle for approval in the Senate this week.
But who could have known just how popular Cash for Clunkers would be??? Early indicators included:
- Consumer polling conducted by Polk before the program began was an early indication of its likely success, with almost two-thirds (64%) of respondents expressing interest in the program. In addition to the savings, improved fuel economy and a desire to help the environment were reasons consumers gave for interest in the program.
- The huge success of similar "scrappage" programs in Europe that the U.S. Cash for Clunkers was modeled after was another early indication this program was going to be big.
- There was so much interest in the program that the government’s CARS website for dealers to register for certification in the program crashed due to the overwhelming volume when automobile dealers across the country began enrolling on June 24th.
- High levels of local, regional and national automotive advertising signaled the industry was ramping up and getting ready for the program well in advance.
Chrysler’s Cash for Clunkers marketing program may have been most successful of all the OEM programs since it addressed the main factor limiting participation identified in our research – people not having a clunker to trade. Three days before the program started, Chrysler used an extensive national advertising campaign to announce that it would match the government's incentive, or give zero percent financing, to those with a qualifying clunker. People with no clunker to turn in were guaranteed $4,500 - $3,500 off a new vehicle. Overwhelming demand quickly depleted dealer inventories and filled their parking lots with "clunkers," leading to an early cancellation of the program.
While official industry sales figures are not in yet, early indications are that the Cash for Clunkers program, which ran for just one week in July, will result in some of the largest monthly sales totals over the past few years for many manufacturers, and slowed declines for others who did not have aggressive programs augmenting the government program.
While the bill's fate is in the hands of the Senate and remains uncertain, many in the auto industry are anxiously awaiting its extension so they can continue to enjoy sales levels unlike they’ve seen in years.
Posted by Bruce Giffin, Market Research Manager, Polk (08.04.2009)
In my last blog post, I shared two critical dealership survival strategies for today's economic slump: 1. Know your market and 2. Obtain a fair and objective assessment of your dealership facility. Following are two additional steps that all dealers should take in light of the current automotive industry challenges:
Step 3: Maintain a steady and open dialog with your OEM and understand your dealer agreement: In most countries, the only way new vehicles can be sold or have warranty service performed is through a franchised dealer. Accordingly, auto companies are continually seeking to optimize their dealer networks by evaluating and scoring such items as sales performance, customer satisfaction and financial strength. Through open and direct communication with their OEM's field or home office personnel, dealers need to be in tune with their OEM's network strategy and how they fit into it. Just as every college student knows what their GPA is, every dealer needs to know what their performance scores are with their OEM. Any shortfalls need to be addressed with a corrective plan.
While listening to the recent Capitol Hill testimony regarding U.S. dealer terminations, it became painfully clear that many dealers either didn't read or understand their dealer contracts to know what was expected of them. Most don't read it until there's trouble. Dealers need to thoroughly understand every facet of the contract by reviewing it with either their field rep or business attorney.
Step 4: Take care of your current and potential customers: CRM, business development centers and effective lead management are more than just industry buzzwords; they are the most important activities a dealer can and should undertake to ensure survival. Many dealers have told me that following up with existing customers is the major initiative getting them through these tough times.
Customers now expect basic conveniences like service shuttles or free overnight service loaners. Dealers that don't offer these and other customer perks aren't even in the game. Customer handling may get a little lax in a 17 million unit industry, but it's importance cannot be overstated in a 10 million unit industry.
The economy will eventually recover, but the "good old days" and "boom times" for dealers may never return. The future for a dealer includes increased competition from existing dealers and new entrants (e.g., Mahindra, Geely, Cherry, Fiat and the "new" Saturn), continued economic pressures (fluctuating oil prices, credit & real estate) and a more discriminating consumer with lofty expectations. The days of "Mom & Pop" dealerships are long gone, and going forward, the successful dealer must be sophisticated, technologically advanced and competitive in all aspects of the business.
Posted by James Dimond, Vice President of Global Network Planning, Polk (07.29.2009)
A couple of weeks ago (June 25th – 26th), I attended the NAMAD (National Association of Minority Automobile Dealers) conference in Chicago. NAMAD is committed to increasing opportunities for ethnic minorities in all aspects of the automotive industry, representing all African American, Asian and Hispanic dealers in the United States. These extraordinary entrepreneurs and community role models who call themselves dealers own or manage franchises that cover all Asian, Domestic and European brands. I was invited to participate in the opening panel discussion. The goal of the panel and overall conference was for the approximately 1,200 minority dealers to come together and discuss the current state of the automobile industry and what Minority Dealers can do, both collectively and individually, to get through the current tough times.
I was joined on the panel by my colleague Jim Dimond, VP Dealer Network Planning, and the following:
- Rev. Jesse Jackson – World-renowned Minority Leader
- Damon Lester – President of NAMAD
- Sil Gonzales – Owner, Casa de Gonzales Automotive Group
- Jay Rivchin – Owner, Dadeland Chrysler, Dodge, Jeep
- Todd Bullard – Partner, Harris Beach Law Firm
- Randi Payton – Owner, On Wheels Magazine
The three-hour panel started with me sharing my thoughts on what happened, both in the auto industry and economically, that created the current dealer crisis, which lead to a discussion on group and individual dealer solutions.
First and foremost, the minority dealers MUST come together as a single voice and support a united vision if change is to occur. I was a little disappointed to see only 25% turnout at the National Conference (300 of the 1,200 minority dealers in attendance). Based on this, I agree and support both Jesse Jackson and Damon Lester when they suggested the group come together as one unit instead of continuing with their current fragmented approach and collectively work with Washington to get some short-term relief. The relief from Washington could include a share of the bailout money designated for the Minority Dealer Community or some form of guaranteed loans.
Secondarily, there are immediate solutions that each dealer could independently implement to improve their business position including:
- Recognizing the days of the “Fat Cat Dealer” are over and changing the way they’re doing business to align with the current industry.
- Understanding the numbers are the key to success. What do I mean by this? For example, if a Dealer Principle does not like analyzing the numbers, then they should hire someone that does. Organizations such as Polk have solutions that can help dealers sell more cars while realizing more Return on Investment.
- Building or strengthening their relationship with OEM regional representatives.
- Proactively posing questions to OEM Reps to better understand their current position and what changes need to be made to improve this position with the OEM.
- Re-assessing and improving their lead management strategy.
I recommend the extraordinary entrepreneurs and community role models who call themselves minority dealers go back to the basics that allowed them to become the successful Dealer Principles, Vice Presidents and General Managers they are today. Know your market including current strengths and weaknesses, focus on the customer, get behind the numbers and overall, remember it’s a business. If each minority dealer takes this approach with his or her dealership, then collectively the minority dealer community will persevere despite the current automotive industry challenges.
Posted by Marc Bland, Manager of Analytical Solutions, Polk (07.13.2009)
I am excited to be kicking off this launch of the Polk Blog. Together with many of my Polk colleagues, I welcome the chance to share thoughts and insights and to engage in dialogue on the automotive industry challenges that surround us every day.
Our goal is to share perspectives, market analysis and forecasts on the shifts we see in the global automotive marketplace. I have no doubt that the next few years will be turbulent. There will be continuous change in sales trends, lead management practices and aftermarket support that will drive loyalty to manufacturers and their dealers. Other factors like changing CAFE regulations and hybrid technology advances will influence product decisions in the industry.
And the breadth of changes will be global. I made a presentation last week on the Chinese automotive outlook. One of the highlights for me was the significance of General Motors as the leader in the Chinese light vehicle market (17.4% market share). GM had the largest largest share gains in China in 2009, succeeding despite the turmoil around the US bankruptcy issues. There will be winners and losers around the world, and the final outcomes will be very volatile.
It is going to be an exciting time. Welcome, again, to our inaugural Polk Blog. We welcome your comments as we discuss our perspectives.
Posted by Stephen Polk, Chairman/CEO, Polk (06.29.2009)
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