IRVINE, Calif., Nov. 24 — Kelley Blue Book www.kbb.com, the leading provider of new- and used-vehicle information, today announces the results of the latest Kelley Blue Book Market Intelligence survey of in-market new-car shoppers, revealing their likelihood to purchase a new car on Black Friday (the day after Thanksgiving, Friday, November 27, 2009) and the effect of additional Black Friday-specific discounts and incentives on purchase timeframes.
When generally asked how likely they would be to purchase a new car on Black Friday, 55 percent of car shoppers said they were somewhat likely, and only 12 percent said they were very/extremely likely.
However, when asked how the availability of additional automotive discounts and incentives on Black Friday would affect their purchase timeframe, 32 percent of in-market new-car shoppers said they would definitely purchase a new car sooner than they had planned. An additional 65 percent said they would consider purchasing a vehicle sooner if additional Black Friday auto discounts and incentives were available.
New-car shoppers also revealed they are not very aware of any special Black Friday-specific discounts being offered by auto manufacturers and dealers. Only four percent of survey respondents said they were aware of such discounts and plan to take advantage of them to purchase a new vehicle on Friday, whereas the majority (67 percent) said they were not aware of any Black Friday-specific auto discounts, but would consider buying a new car if such deals were available.
Among in-market new-car shoppers who said they were not likely to buy a new car on Black Friday, 35 percent said they are waiting on better incentives and discounts, and 17 percent indicated that the incentives and discounts they are aware of right now simply are not good enough.
“The latest Kelley Blue Book Market Intelligence survey data shows that car shoppers are hungry for deals this Friday and would seriously consider buying a new vehicle then if the price was right,” said James Bell, executive market analyst for Kelley Blue Book’s kbb.com. “However, there is a perception gap about what special deals actually are available to new-car shoppers on Black Friday. This should motivate auto makers to heavily promote any special discounts or incentives so new-car shoppers can help positively contribute to the bottom line for manufacturers’ and dealers’ November sales.”
This Kelley Blue Book Market Intelligence Survey was fielded to 121 in-market new-car shoppers on kbb.com from November 20-23, 2009,