CBT News, Feb. 19, 2021 – Cox Automotive recently published the Kelley Blue Book Brand Watch Reports on the luxury and non-luxury segments. The study covers both luxury and non-luxury segments. Today on CBT News, Michelle Krebs and Vanessa Ton join the show to discuss findings from the report. Krebs is the executive analyst for Autotrader and Vanessa Ton is senior research manager for Cox Automotive. Krebs explains that the study is a consumer perception survey that reveals shopping data that determines how particular auto brands are performing.
Krebs begins the conversation by pointing out factors that stood out to her as she conducted the study. For the first time ever, shopping consideration for pickup trucks surpassed consideration for sedans among consumers. SUVs still dominate the industry as two-thirds of all shoppers consider buying an SUV. Ton adds that the rise in pickup trucks is due to fall off of cars and pandemic-induced incentives. People continue to gravitate towards trucks because it’s an all-purpose vehicle that answers the needs of the consumer.