With all the talk about declining motorsports attendance and TV viewership, when it comes to new car and truck buyers, they are still attending and watching more. The numbers are up, according to Foresight Research.
This year 12 percent of all new car/truck buyers attended a race before making their decision on what to buy. Likewise 22 percent watched motorsports on TV. Compared to five years ago, motorsports TV viewership went from 20 to 22 percent. Attendance went from 8 to 12 percent.
So what did decline in those five years? Digital dropped from 70 to 66 percent. It’s still the No. 1 category but did go down. What changed? The Millennials returned to the new car market and they attend racing at four times the rate of older Americans, and are twice as likely to watch it on TV, according to Foresight.
Did motorsports influence the new vehicle decision? In 2013, 4 percent of car buyers say they were influenced to purchase by motorsports. Now that number is 13 percent – a 300 percent increase.
“There are a lot of compelling reasons contributing to the acceleration in motorsports,” said Steve Bruyn, CEO at Foresight Research. “In addition to the increase in Millennial car buyers (who are more likely to be motorsports-influenced), auto racing provides a trifecta of value to involved automakers: deep engagement among buyers with the sport itself, strong connection between ‘high value’ customers and motorsports and avid fans who act as a catalyst for word of mouth.”
“This deep interest encourages vehicle purchases and vehicle accessory purchases at a greater rate than average, says Foresight, and even participation in racing among the fans themselves,” Bruyn added. “That means more revenue at the dealership, on the track and in the aftermarket. Then, they tell their friends. Motorsports fans were the source for advice among one-quarter of all buyers. Start doing the math and that is a lot of marketing value beyond the race itself.”
The 2018 Motorsports Immersion Report is just one of many reports and custom analyses generated from this database to help automotive marketers better understand purchase influences and make more informed marketing decisions. The Foresight databases explore new auto purchase influence for 16 marketing channels but concentrate on experiential marketing – sponsored events, motorsports and auto shows.
For more information, visit foresightresearch.com/.