Acxiom Study Reveals Insights for Squeezing Extra Mileage from “Cash for Clunkers” Program
Seize your share and capture the excitement beyond the initial surge.
Acxiom’s Automotive Consumer Dynamics study reveals which U.S. consumer segments are most likely attracted to the Car Allowance Rebate System (CARS) and which are in the best position to cash in on the $3 billion federal first-come, first-serve program. The study also recognizes more than four million U.S. households with vehicles eligible for the program.
CARS, commonly referred to as “Cash for Clunkers,” is a short-term government program that helps consumers pay for a new, more fuel-efficient car or truck from participating dealers when they trade in a gas guzzler, which is later crushed or shredded.
Key findings include:
- Consumers with the highest index of clunkers prefer minivans and pickups.
- Two consumer groups that have the next highest index score for clunkers show no particular vehicle propensities, leaving a wide-open field for marketing.
- One large group of consumers with potential trade-ins has a strong preference for Korean-made vehicles.
- Thousands of consumers who “come late to the party” can still be good prospects for new car sales after the federal money is depleted.
- Least inclined to act are the wealthiest, because most of their vehicles don’t qualify, and the poorest, who can’t afford a new vehicle.
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