In January we identified which luxury vehicles are more popular on CarGurus (in terms of lead submissions) than their share of the new-vehicle market would suggest.
This month we’ll ask the same question about trucks and SUVs. Which of these vehicles were “overrepresented” on CarGurus in February?
January proved out the idea that some of the most expensive new cars are some of the most overrepresented in CarGurus lead traffic. For trucks and SUVs, the results are similar:
|Rank||Make/model||New-car market share||CarGurus lead-traffic share|
|6||Land Rover Range Rover||0.13%||0.44%|
|9||Toyota Land Cruiser||0.02%||0.07%|
What do we make of this? The first and most obvious point: none of these trucks are sales leaders. The X5 is the biggest seller on the list, and BMW moved fewer than 2,600 X5s in January.
The second thing that jumps out is that these are some of the most expensive trucks and SUVs on the road. A new Range Rover can easily reach six-figure territory, while the Escalade and the Land Cruiser aren’t far behind.
That second point speaks to a characteristic of CarGurus users: They often seek value in their used-car purchases.
What do you think the No. 2 vehicle on CarGurus would be – maybe the Silverado or the Sierra? Nope – it’s the Jeep Wrangler. Lots of people want Wranglers, but can only afford to buy them used.
This is something for you to consider not only for inventory management purposes but in how you price your inventory. Used-vehicle shoppers are value-minded; that’s why they’re buying used instead of new. Pricing competitively to your market will help drive both sales and customer loyalty for your store, no matter what kind of vehicles you’re selling.
* QX70 and FX used interchangeably
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