Selling Used Cars to Younger Buyers

106 9


As goes the new car market, so goes the used car market. Want to know what used car young buyers are interested in? Track the new car market and learn all you can about Twitter.

Anita Lienert, writing at Edmunds.com, says, "Younger car buyers are gravitating toward South Korean and Detroit-made cars and moving away from Japanese brands, according to a new Edmunds analysis of R.L. Polk & Co. data.

"According to an analysis of new car retail registrations from R.L.

Polk & Co., American brands accounted for 36.8 percent of cars bought by Americans age 25 to 34 in 2012, up from a share of 35.4 percent in 2008. Meanwhile the share of Japanese brands for the same age group plummeted from 50.6 percent to 42.9 percent during that period.

"The exodus from Japanese cars by younger buyers is turning mostly toward South Korean brands. About 10 percent of new cars purchased by 25-to-34-year-olds in 2012 carried South Korean nameplates, more than doubling the rate for this age group since 2008. Korean brands represent 9.5 percent of all new retail registrations in the U.S. in 2012, almost twice as much as their share of 5.0 percent in 2008."

So, how does this interpret to the used car market? Not all 25-to-34-year-olds can afford new cars. They might be looking to get into slightly newer used cars from American and Korean manufacturers. That's why if you're selling a used car that falls within those guidelines you may need to rethink how you market your used car.

The first thing you're going to need to do is become familiar with Twitter. That's where the young people are hanging out. According to Mindy Lilyquist, the former About.com guide to home business, "Your customers and potential customers are on Twitter and you're missing out on the opportunity to have a two-way conversation - which is virtually impossible with traditional marketing."

Becky Giantonio Moran, writing at the Fresh Pita blog, says Twitter is popular because "Teens and young adults have grown up in a real-time world, in which they can access information, images, products - almost anything - within seconds via the Internet. So it makes sense they want the same from their social networks. This is why Twitter usage among this age group grew so quickly, from 8 percent of teens ages 12 to 17 using it in 2010 to 16 percent in 2012.

"Teens can quickly and easily post their updates and get feedback, engage in conversations based on their interests, grab friends' attention by mentioning them in posts or direct messaging them and view a steady stream of their friends' posts."

She also has this observation, which is extremely important for selling something like a used car: "What's faster than words? Photos! Eighty percent of teens who use social media share photos and video, making it one of their most popular activities. With the rise of the visual Web and teens' desire to express themselves, the photo sharing network Instagram, which is essentially Twitter for photos, became the next "it" network, exploding in teen usage in 2012. According to Nielsen, Instagram is the top photography site among teens ages 12 to 17, with 1 million teens visiting the site in just one month."

About.com has a guide to using Twitter that you might find handy if you're not familiar with this particular form of social media. You can learn all the basics.

As mentioned in the Fresh Pita Blog, the most important thing you can do, though, is learn how to incorporate photos into Twitter. That and hash tags. It's not my area of expertise but they are going to be crucial to selling a used car on Twitter.

Basically a hash tag is the pound symbol (#). Your tweet could be as simple as "Used Car for Sale #2010 Elantra - Reply for details". Then post a picture to go with it.

People interested in used cars will search for Tweets related to an Elantra and find your used car for sale. The beauty of it is you can handle all your correspondence via social media at the beginning and not be tied up on emails or phone calls.

Have an American or Korean used car for sale? Consider targeting the youth market and make sure your message gets heard loud and clear on Twitter. Of course, make sure you put a fair value on your used car - or all the tweets in the world aren't going to help you.
Source...
Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time

Leave A Reply

Your email address will not be published.