People will still buy GM cars: Fact or Fiction?
Written by Leif Cefalo (contact - e-mail) -- December 22nd, 2008 |
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No matter the resolution to the current state of the auto industry, the impact of a bailout on car buying behavior is much debated. Clearly people are concerned based on the traffic to gmfactsandfiction.com. With nearly 180,000 unique visitors in November; a 3000%+ increase over October.
How are people finding out about this site? In the chart below we can see that 3 of the top 10 sites referring people to gmfactsandfiction.com are GM brands.
Furthermore, at number 10 is YouTube with the below video.
But how will it impact vehicle sales? See a great piece of market insight from our cousins at TNS who recently survey consumers on purchase intent. The TNS survey showed that in either scenario (Government aid or bankruptcy) vehicle sales are likely to be impacted negatively. Bankruptcy, however, the worse of the two, could potentially cost the industry $50 billion in sales.
So will people buy GM cars? The facts show that it really depends on the bailout – either way hold your breath.
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December 23rd, 2008 at 1:34 am
The worst that could happen, now that they have a bailout, is that in the next six months or so, they’re unable to dig out of the hole, and without hope of any further aid, start selling off bits and pieces. That would really kill loyal customers of the big 3, and drive everyone to Toyota and Honda and the other foreign car makers.
December 23rd, 2008 at 11:09 am
I’m not sure how you could possibly attribute 50 Billion in lost sales as a result of chapter 11 filing…that entire analysis is based on the assumption that people shopping for cars are dead set on a big three auto and wouldn’t simply look elsewhere (oversees) when shopping.
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December 28th, 2008 at 8:49 am
we ae closly following GM and Jaguar on the UK Modified Network what a mess there in.
http://www.ukmodifiednetwork.co.uk
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