Automakers: Who Is Your Real Competition?

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While some consumers never set foot into a dealership before they buy, we wondered about those that do shop around for a new car? Which automakers are they visiting, and what would that tell us about competition between brands?

We looked at unique visitors to auto dealerships across the US to determine which makes are truly competing against one another for sales. For this analysis, we assumed that the last dealership visited was the make eventually purchased. For example, Chevy buyers were most likely to be seen at Dodge, Mercedes, Lexus, Honda and Audi dealerships.  Read on for more examples…

What surprised us? We found more crossover between standard and premium automakers than we first expected. It looks like new car buyers at Chevrolet, Ford and Subaru often visit more aspirational brands during their new car search.

Would we see the same crossover among buyers of luxury cars?

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Not so much. Luxury auto buyers largely consider other premium makes during the buying process.

We also noticed that some brands have more prospective customers visit multiple automakers than others. Over 20% of visitors to Honda and Buick, for example, were observed at other auto dealerships. Less than 10% of visitors to GMC and Jeep were seen elsewhere.

What can Marketers Do with This Information?

Find your competition – By understanding where your buyers go during the new car purchase process, you can identify your real competition.  Conventional wisdom says that Ford and Chevrolet (or BMW and Mercedes) compete for buyers – but our analysis suggests that’s not really the case.

Refine your message – When you know your competition, you can find new and improved ways to stand out. Which models or features are your competitors’ talking about? What are their financing terms? What could you add or change to make your message resonate?

Frequently Asked Questions

Discover how analyzing real-world movement patterns can reveal valuable trends in customer behavior, optimize business operations, and enhance strategic decision-making.

What is site selection and why is it important?

Site selection is the strategic process by which businesses identify, evaluate, and choose optimal locations for their operations. This process is paramount as the location of a business directly influences factors such as accessibility, visibility, profitability, and market longevity. For retailers, the right site can mean higher customer footfall and increased sales. In real estate, a well-selected site can promise lucrative returns on investment and tenant stability. Financial service firms leverage site selection to position their branches or ATMs in high-demand areas. Essentially, site selection plays a pivotal role in ensuring the success and growth of a business by aligning its physical presence with market opportunities and demands.

How does location intelligence enhance site selection?

Location intelligence refers to the harnessing of geospatial data to derive actionable insights, which can significantly enhance the site selection process. By analyzing data like consumer demographics, foot traffic patterns, competitor locations, trade area data, and more, businesses can make more informed decisions about where to establish or expand their operations. Location intelligence allows for a deeper understanding of market dynamics, revealing hidden opportunities or potential pitfalls. For instance, retailers can identify gaps in the market, real estate professionals can forecast property value trends, and financial service providers can assess areas with high customer demand. Advanced tools, like those offered by Unacast, further refine these insights by leveraging AI and machine learning, enabling more precise and timely decision-making.

What challenges do businesses face in the site selection process?

Unacast provides invaluable support to businesses during the site selection process through its advanced location data and analytics software, all powered and refined by Artificial Intelligence and Machine Learning technologies. The company offers a suite of products designed to deliver accurate, actionable, and comprehensive location intelligence. This data proves crucial for businesses looking to understand consumer behavior, analyze traffic patterns, evaluate competitor locations, and much more. With Unacast’s robust tools, businesses in retail, real estate, and financial services can derive insightful information necessary for making strategic, informed site selection decisions. The platform not only provides reliable data but also ensures it is readily actionable for businesses, whether they are looking to open a new store, invest in property, or expand their financial services to new locations.

What types of location data are crucial for informed site selection?

Demographic data offers insights into the age, income, and lifestyle of people in a particular area, helping businesses understand their potential customer base. Foot traffic data provides information on the number of people visiting a location, which is crucial for retailers to estimate the store's potential popularity and for real estate professionals to assess an area's vibrancy and demand. Geographic Information System (GIS) data helps in visualizing and analyzing geographical details, supporting companies in identifying accessible and strategically located sites. Understanding the proximity to competitors, accessibility, and the socio-economic profile of the surrounding areas is also vital. Unacast’s platform aggregates and analyzes these various data types, providing a holistic view that significantly empowers businesses in their site selection endeavors.

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