AutoVIBES, a monthly survey from Harris Interactive and Kelly Blue Book Marketing Research, showed consumers are more dependent than ever on new-car pricing incentives.
Of the U.S. adults planning on shopping around for a new car in the next year, 51 percent say they are unlikely to buy in the absence of incentives. That number is up from 44 percent eight months ago and the highest since December 2003, when the question was first asked.
Additionally, 67 percent of those surveyed said the make and model they might choose is affected by pricing incentives. For 71 percent, the availability of incentives can alter the timing of a new-car purchase, as well.
The study also points to the success of General Motors’ “pay what we pay” promotion. Consideration levels of in-market buyers for Chevrolet are up six points to 31 percent. GMC also saw an increase form 11 to 15 percent.
The study, surveying U.S. drivers aged 18 and up, has a sampling error of plus or minus 3 percent.