Target Interested Shoppers to Move Eco-Friendly VINs.
The tax credit offered by the federal government can make purchasing an all-electric or plug-in hybrid vehicle really pays off for car shoppers – and for dealers, too.
The tax credit – which can be as much as $7,500 – effectively gives the shopper a discount on a new car, which is certainly an incentive to move forward with a purchase. On the other side of the transaction, the fact that the customer already feels they’re getting a good deal means dealers don’t need to cut prices or offer incentives. So profits stay intact.
Additionally, shoppers interested in alternative fuel vehicles are engaged and motivated. That means that, once a shopper is aware of a nearby dealer who has the car they want in stock, there’s no heavy lifting to be done to move forward with a sale.
Put yourself on a shopper’s radar.
Clearly, targeting these shoppers effectively is a smart strategy. If you have alternative fuel vehicles in your inventory, but your digital strategy doesn’t specifically target shoppers who are looking for them, you’re relying on them to find you. It’s unlikely that will happen on its own. But there’s no reason to let these lucrative potential customers slip away.
LotLinx can help you pinpoint in-market shoppers looking for alternative fuel vehicles, and connect them directly with the VINs in your inventory that match their needs. It’s a quick, efficient way to optimize spending, increase sales, and protect profits.
An uncertain future.
It’s not known exactly how long the tax credit program will last. Under the original plan, each manufacturer has a separate expiration date, which comes only after they’ve sold 200,000 qualified vehicles. No manufacturer has yet met that threshold.
However, the new administration has ushered in uncertainty about the fate of the program. While there have not yet been efforts to revise or eliminate the credit, change could come at any time.
If you have eligible cars in your inventory, now is the time to launch VIN-specific campaigns to target the highly motivated shoppers who are looking for them.
Electric and plug-in hybrid vehicles are still a tiny fraction of the market, with just over 159,000 sales in 2016. But those in-market shoppers specifically looking for an alternative fuel vehicle are highly motivated. Utilizing VIN-specific campaigns to find, engage, and sell to these low-funnel shoppers in your market is a smart way to take advantage of the government’s generosity, while maximizing gross profit.
What’s in your inventory?
Here are the eligible cars from the major manufacturers. You can find additional details on the U.S. Department of Energy website.
If you have any of these models in your inventory right now, contact LotLinx to launch a campaign to target shoppers who are looking for them. With the future of the tax credit program uncertain, now is the time.