The entire month averaged 15%, +4% higher than August.
Over the past year through August, GM’s consideration among new cars shoppers ranged from 10-12%, according to market research from CNW. This means that among so-called new car intenders, GM vehicles appeared among the Top Three on shopping lists about 12% of the time.
However, the 60-Day Guarantee announced in the middle of last month caused a big increase in consideration, which resulted in taking GM’s shopping list position into the Top Three, and in many cases the Top Two brands being considered.
After the initial success came a slow decrease in consideration, which CNW says is normal for any new marketing effort except for rare campaigns.
Nonetheless, CNW claims that GM won the month.
Prior to the money-back 60-Day program, September’s consideration numbers were in the 10% range, about where GM was previously. The next three five-day periods after the announcement caused an upswing to 23% and then deflation, ending at 13.5%. The entire month averaged 15%, four percentage points higher than August.
The success of such programs often depends consistent and long-term communication. Right now, the 60-Day Guarantee program expires on November 30.
Details of GM’s new Satisfaction Guarantee:
- Offer covers 2009 and 2010 Model Year Chevys, Buicks, GMCs and Cadillacs (except medium duty trucks)
- Customers (one per household) can return their vehicle between 31 and 60 days with less than 4,000 miles
- Customers will be informed in writing before they buy the vehicle of the terms of the Satisfaction Guarantee
- Customers must take delivery by Nov. 30
- The Satisfaction Guarantee covers the vehicle purchase price and sales tax, but not other add-ons like accessories, negative equity on a trade-in or other fees; other restrictions apply
- Leased vehicles are not included
“We’re putting our money down that if people buy one of our vehicles and don’t absolutely love it, we’ll take it back. We will stand behind them both in the short-term and over the long haul,” said Bob Lutz, GM vice chairman of marketing and communications, when the program was announced. So far, relatively few vehicles have been returned.