hfa Insights, News & Awards

WHAT'S
HAPPENING

At hfa, we're always making headlines (and not just the kind that go into ads). Here you can read more about our latest news, strategic insights we've published and awards we've won.

Capitalize on Drivers’ Need for Long-Lasting Vehicles

The average age of cars on the road in the U.S. has reached an all-time high and continues to rise. As drivers look for ways to adapt to the slowly recovering economy, they are avoiding a new-car purchase by finding ways to keep their current vehicle on the road longer.

Average Vehicle Age

Studies show that the trend toward keeping vehicles longer is expected to continue. The average age for vehicles has reached 11.4 years, representing a steady increase over the past 8 years. By 2018, it is estimated that the number of vehicles 12 years of age and older will increase by 11.6 percent.*

Vehicles Are Investments

Since consumers are driving their vehicles longer, they recognize the importance of investing in their vehicles. Drivers no longer want the cheapest options. Instead, they want the best value, which equals a balance of cost and performance.

Vehicle Age Impacts Decisions

To get the most for their money, drivers want to invest the right amount into their vehicles, not more. Vehicle age, therefore, plays an important role in the value equation. For example, the driver of a 12-year-old car likely won’t purchase the most expensive part knowing the vehicle is toward the end of its life cycle. A driver of a 5-year-old vehicle, however, may purchase a premium product that will keep the vehicle on the road for the long run.

Aftermarket Opportunities

With consumers focusing on vehicle maintenance and harder-working products, automotive aftermarket brands have greater opportunities to meet consumers’ needs to prolong vehicle life. By properly positioning your brand in the forefront of vehicle longevity, you can carve out a leadership position in the industry.

Experienced Experts

hfa is well-practiced in differentiating automotive brands and claiming open territory. Through target audience insights and a deep understanding of various distribution models, hfa creates communication strategies that drive brands to the top of audience consideration sets. With our help, you too can position your company for long-term success as a relevant, trustworthy brand.

*Source: Polk

http://www.teamhfa.com/news/insights/capitalize-on-drivers-need-for-long-lasting-vehicles/