Jumpstart Automotive Media, a leading media, insights, and marketing solutions company, has new insights into the Luxury SUV/CUV market as it relates to shopping behavior and shopper interest. Shopper interest in Luxury Utilities continues to climb, while interest in luxury sedans is falling. See below for trend data.
Top Performing Segments During May Based on Shopper Interest
Luxury Performance SUV/CUV: +34%
**Led the way in growth in May 2018 and interest was 10% higher than May 2017
Compact Performance: +18%
Luxury Coupe: +15%
Luxury Performance: +15%
Luxury Performance Sedan: +14%
Share of Interest percentage increases compared with previous month
Reasons Why Interest in Luxury Sports Cars is Falling Compared with Luxury Utilities
- Back in 2016, MarketWatch made a prediction that sales for luxury sports cars would shrink due to the increasing age of Baby Boomers: “Men born between 1946 and 1964, who buy most sports cars, are cruising past their peak spending years. And as age 70 beckons, folding up like an accordion to get into the front seat of a speedy roadster is hardly the prescription for an aching back.”
- Per Wards Auto, Luxury Sport sales were down 14% in 2017 vs. 2016 and down 19% January-May 2018 vs. January-May 2017 (May 2018 was 9% lower than May 2017)
- Luxury Sport interest on Jumpstart was down 15% in JAM in 2017 vs. 2016 and down 7% January-May 2018 vs. January-May 2017 (May 2018 was 17% lower than May 2017)
- The falling interest/sales in luxury sports cars has created a lifestyle shift towards “high-powered versions of luxury SUVs”. Branden Cote, AMG manager for Mercedes-Benz U.S. said, “Boomers are coming out of pure sports cars, but they’re not willing to sacrifice pure driving. . . The idea of a sports SUV was incomprehensible 10 years ago. They’re not giving up spirited driving; they’re going to a different type of sporty driving.”
“There is clearly a shift in preference that has taken place, not only in the car versus truck space, but for luxury appetites as well,” said Brian Miller, senior web analyst, strategic insights at Jumpstart. “Those who have been luxury drivers for years, as well as younger fans of luxury today are looking to combine their favorite creature comforts with the roominess, versality and performance offered by utilities.”
Jumpstart’s Path to Purchase Reports
Jumpstart analyzes share of shopper interest regularly to gain insight into what consumers are considering when researching their next vehicle purchase, as well as how long it takes them to make a decision and how media influences their shopping process. These insights are based on the shopping patterns of more than 20 million in-market auto shoppers who are researching vehicles across the company’s portfolio of automotive publishers.
Jumpstart Automotive Media, a division of Hearst Autos, offers high-impact and performance-driven marketing and advertising solutions that achieve optimum results. An industry thought-leader known for its in-depth shopping reports, Jumpstart connects automotive marketers with the largest, high-performing audience of car shoppers and enthusiasts through partnerships with: Car and Driver, U.S. News Best Cars, J.D. Power Cars, NADAguides, Autoweek.com, Autobytel, Autolist.com, Daily News Autos, LeftLaneNews.com, CarSoup, CarBuzz, CarStory, and VehicleHistory.com.
Author: Digital Dealer
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