Motorsports Attendance Declining; Not Among New Car Buyers
ROCHESTER, Mich., Sept. 12, 2018 (GLOBE NEWSWIRE) -- With all the talk about declining motorsports attendance and TV viewership – when it comes to new car and truck buyers - they are attending and watching more. It is up.
This year 12% of all new car/truck buyers attended a race before making their decision on what to buy. Likewise 22% watched motorsports on TV. Compared to five years ago, Motorsports TV viewership went from 20% to 22%. Attendance went from 8% to 12%. So what did decline in those five years – digital dropped from 70% to 66% - still number one, but down.
What changed? The Millennials returned to the new car market and they attend racing at 4 times the rate of older folks and they are twice as likely to watch it on TV. Did it matter – did motorsports influence the new vehicle decision? Certainly did!!! In 2013 4% of the auto buyers were influenced to purchase by motorsports – now that number is 13% - a 300% increase. “There are a lot of compelling reasons contributing to the acceleration in motorsports,” said Steve Bruyn, CEO at Foresight Research. “In addition to the increase in Millennial car buyers (who are more likely to be motorsports-influenced), auto racing provides a trifecta of value to involved automakers: deep engagement among buyers with the sport itself, strong connection between ‘high value’ customers and motorsports, and avid fans that act as a catalyst for word of mouth.”
This deep interest encourages vehicle purchase and vehicle accessory purchase at a greater rate than average, and even participation in racing among the fans themselves. That means more revenue at the dealership, on the track, and in the aftermarket. Then they tell their friends. Motorsports fans were the source for advice among one-quarter of all buyers. Start doing the math and that is a lot of marketing value beyond the race itself.”
The Foresight 2018 CHIPS™ Study surveyed about 5,600 recent new auto buyers. The 2018 Motorsports Immersion Report™ is just one of many reports and custom analyses generated from this database to help automotive marketers better understand purchase influences and make more informed marketing decisions. The robust Foresight databases explore new auto purchase influence for 16 marketing channels but concentrates on experiential marketing – sponsored events, motorsports, and auto shows.
Contact Bob LongstrethForesight Research248.608.1870 x 18 email@example.com