Consumers to Automakers: Give it the Gas Survey shows gas is top incentive for car shoppers — outranking financing, rebates

Automakers who use low-interest financing and cash-back deals to fuel consumer interest and sales may be spinning their wheels, according to a new survey* by American Express Incentive Services, L.L.C. Most of the 1,012 consumers surveyed said a gas incentive would most motivate them to test drive or consider purchasing a vehicle.

ST. LOUIS (PRWEB) June 29, 2002 -interest financing and cash-back deals to fuel consumer interest and sales may be spinning their wheels, according to a new survey* by American Express Incentive Services, L.L.C. Most of the 1,012 consumers surveyed said a gas incentive would most motivate them to test drive or consider purchasing a vehicle.

When given the option of a $50 gas, gift or dining card or entry into a drawing for a free trip, more than half — 60 percent — of car shoppers said the gas card would most motivate them to take a new vehicle for a spin.

And, once they are in the showroom, a gas incentive can turn a consumers initial interest into a purchase. Of those in the market for a new vehicle, the highest number, 45 percent, said that a two-years supply of gas would most motivate them to consider purchasing a vehicle. They favored gas over zero-percent financing, a $1,000 rebate, a trip worth $1,000 or a $1,000 gift card.

Gas was even a powerful purchasing incentive for those who arent in the market for a new vehicle. The highest number of these consumers, 33 percent, said a two-years supply of gas would most likely change their minds and motivate them to consider making a purchase. Again, they preferred gas to zero-percent financing, a $1,000 rebate, a trip worth $1,000 or a $1,000 gift card.
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AEIS Survey Data/Add One

"The zero-percent financing deals offered late last year may have driven traffic into dealerships, but they were costly for the industry," said David Mulcahy, AEIS director, product marketing. "Moving forward, automakers will look for incentives that are cost effective and build the kind of longer-term brand favor needed to compete."

One incentive that meets both requirements is AEIS Fill It UpSM Card. It offers the gas reward consumers want and helps automakers tackle the critical test drive step in the purchasing process. Plus, the Fill It Up Card is available in pre-denominated amounts, so programs can be structured to motivate consumers to test drive, purchase and provide referrals. Customize the Card with a logo, and the survey shows a company can boost favorable brand impressions. More than 50 percent of current shoppers said a branded incentive Card would give them a more favorable opinion of an auto manufacturer.

"As AEIS survey data shows, the right incentive has the power to turn window shoppers into buyers," said Mulcahy. "And, consumers are saying the right incentive is gas."

For more information about incentives for the auto industry, log onto www.aeis.com.
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About AEIS
As an incentive industry leader, American Express Incentive Services, L.L.C. adapts reward solutions to the changing needs of businesses. These solutions are designed to motivate, recognize and help retain employees, distribution partners, sales representatives and customers. AEIS incentive reward solutions include virtual rewards redeemable online, Gift Cheques®, and reward cards accepted at thousands of travel, entertainment and retail locations throughout the United States and Canada that welcome the American Express® Card. AEIS is headquartered in Fenton, Mo., a suburb of St. Louis.

• The AEIS survey polled a random nationwide sample of 1,012 adult Americans. The study was conducted in April 2002 by Opinion Research Corporation, an independent research firm. The margin of error is plus/minus 3 percent