Bienvenue à Paris: it’s auto show time again
Rotating annually with the Frankfurt Auto Show, the Mondial de l’Automobile attracts auto makers worldwide to showcase an incredible array of style and innovation. As the third largest new car market in Europe, France is well-qualified to host the show: according to scorekeepers at the European Automobile Manufacturers’ Association (ACEA), almost two million new vehicles are sold there each year.
Also, although little known in the US, French brands Renault and Peugeot are the #2 and #3 best-selling nameplates in Europe behind Volkswagen. Here are the three leading EU nations in terms of 2015 new vehicle registrations.
- Germany: 3.2 million
- United Kingdom: 2.6 million
- France: 1.9 million
These are pretty impressive numbers; it’s no wonder that manufacturers compete so fiercely because, in these markets alone, an extra share point is worth over 70,000 units.
Boomer Wheels Month: celebrating the world’s 3rd largest car market
You see, in 2015, Americans aged 50+ bought about as many new passenger cars, SUVs, pickups and minivans as France, Germany and the UK combined.
Wow, that’s a lot of vehicles! So many that if we were a country we’d be the world’s third largest automotive market; only China and the US itself are bigger.
You’d think that automakers and their ad agencies would be falling over themselves to court our business.
Well, don’t hold your breath.
Madison Avenue has decreed buyers over fifty to be unworthy of active targeting. Apparently, as we shuffle out of the 18-49 demo, we’re easy to get without trying, too old to change our ways and too wizened to use in ads because younger buyers run for the nearest safe space at the sight of crow’s feet.
OK, we can’t deny the wrinkles – although we prefer “character lines” – but easy to get and incapable of change are just plain nutty! There, we said it; oh yeah, that felt good.
Revolutionizing US auto sales: Boomers are way too young to stop now
In reality, Boomers have been embracing constant change for decades; we invented the modern world and we never stopped adapting. And when it came to passenger vehicles – known in the industry as light duty – Boomers turned the American automotive market upside down. For starters, we …
- Demolished Detroit domination: in 1970 the Big Three sold 85% of all new light duty vehicles – in 2015 they were down to 45%.
- Rocketed trucks, vans and SUVs to a 57% market share in 2015, up from 15% in 1970. Back in the day, these were strictly for work – spartan, masculine, rough and down-market.
- Scorned our parents’ all-American concept of luxury: in 2015 combined Cadillac and Lincoln deliveries were about half (56%) of 1990 levels – total Mercedes, BMW and Lexus sales increased by over 400% in the same period.
As if all this wasn’t enough, Boomers also welcomed smaller cars – today’s “full-size” would be a compact in 1970 – learned to buy nine brands of “foreign” cars that are actually made in America and got the next-gen fuel segment up and running as the early adopters of EVs and hybrids.
All this – in adland’s quirky world-view – comes to a screeching halt at midnight on our 50th birthday, a
millstone milestone that some eight million Gen Xers will have passed by the end of 2016 as they join Boomer car buyers in exile.
Of course you do. Hey, we know you live for this stuff, so here’s a doozie:
Quoting data from Strategic Vision, a recent Video Advertising Bureau whitepaper reports “of an average of 13 new cars purchased in a lifetime, 7 of those are purchased after age 50.”
Connecting with the world’s 3rd largest automobile market
We’re sure that most automakers and ad agencies know the awesome metrics of the 50+ buyer space – c’mon, 7.6 million new vehicles are hard to miss.
Their failure to address this mega-market has deep roots.
First, the herd instinct – as long as no disruptive brand breaks away to steal sales from complacent competitors, marketers follow the safe, familiar path established years ago by – confession time – then hot-shot young Boomer Mad Men. Second, making authentic connections with older consumers is super-challenging – most ad agency creative departments have a median age around thirty and don’t know how to speak to the 50+ space except in awkward stereotypes.
Unfortunately, there is no easy way to increase market share in the world’s third largest auto market. Winning here takes hard work, open minds and expert coaching – not simply to avoid gaffes and goofs, but to build smart, authentic engagement.
And it’s well worth the effort to get things right: remember, Americans over fifty buy as many new cars each year as France, Germany and the UK combined. Zut alors! Ach du Lieber! Blimey!
If there’s a brand out there that could handle the strain of winning an extra share point, aka 75,000 units or so, just honk – nous parlons Boomer-speak.