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Show Update #4

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Show Update #4 2 012 Wrap Up www.ChicagoAutoShow.com Chicago’s Clout With Buyers Still Rules It’s no secret that auto shows work on a multitude of levels. “There’s no argument that ours is the preeminent consumer If they didn’t, the idea borne under Sam Miles, the Chicago show in the U.S.,” Sloan added. “No other show has the Auto Show’s first promoter, would be an idea long forgotten undisputed king of convention centers in McCormick Place, by the Windy City, not to mention the automotive industry. But and our audience of potential customers is not tied to any what they learned quickly is that engaging potential consumers particular brand. And from the manufacturer side, we’re in a public show is a concept that informs, inspires and the ‘neutral Geneva’ show of the United States, with no motivates people geographic ties to to take action. manufacturers. Now—111 While the years after the first full study will be show was staged finalized in the next in Chicago’s few months, other Coliseum—those initial data of note same reactions from Foresight remain valid and showed that: amplified, not only • Approximately in the Windy City, two-thirds of but also around attendees come the world. every year or every According other year to findings • Visitors spend from the highly 2.9 to 3.8 hours at regarded Foresight the show (average), Research: depending on ride/ • More than drive participation three times as • Almost many 12-month three quarters of intenders as attendees added non 12-month a brand to their intenders came to the show consideration list as a result of their auto show visit • Attendees are twice as likely as general area residents to • Show attendees are 10 times more likely to influence 16 purchase a new vehicle within three months or more people each year than are general area residents who • Of total attendees, one quarter came from outside don’t attend. Chicagoland. “Sales numbers for our local dealers were strong before the “The Foresight findings speak very well of the health and show,” said Steve Foley Jr., chairman of the 2012 Chicago Auto impact of our show,” said Dave Sloan, general manager of the Show. “But the strong bounce we get every year from the show Chicago Auto Show. “In just those initial pieces of data we can appears to be even stronger this year. From my conversations see that our show has a broad appeal; is a strong motivator for with other Chicago Automobile Trade Association directors, consumers to translate their visit to McCormick Place to a visit colleagues and friends in the business, the show performed its to a dealership; and our reach is far more than just the local function exceedingly well—and they’re seeing results in their population. When 25 percent of show-goers come from outside dealerships. That translates to more sales for the dealer and our area, it also speaks volumes about Chicago’s appeal as a better deals for the consumer. It’s why this show has worked as destination for tourism.” well as it has for more than a century.” MAMA Breakfast “I’m smiling for two main reasons,” said John Maloney, Volvo grew 25 percent domestically and 20 percent globally, president of Volvo Cars of North America. “Not only am I here to the best percentage improvement of any luxury premium brand. share some of the many reasons why Volvo is the fastest-growing Consumer confidence—which runs in tandem with luxury brand in America, but I personally feel at home here at employment trends—is up again to levels not seen since April the Chicago Auto Show because Chicago is home. You see, 2011. While it’s too soon to tell where we’ll eventually land, Chicagoans never really leave, they just visit other places on their consumer attitudes bounced back in time for the November way back!” 2011 holiday shopping season, after lagging for months. Maloney opened the first day of the media preview for What does that all mean? the Chicago Auto Show at the Midwest Automotive Media “For the industry, it means we’re building momentum,” Association breakfast. Maloney commented. Maloney recalled that “For Volvo, it means even though he grew up that innovation will be nearby, each boyhood trip front and center. We will downtown was special continue to raise our because it was like luxury cache, to raise venturing into a familiar the performance and but different world full of efficiency of our vehicles, tall buildings, busy streets, all while burnishing bustling neighborhoods the exclusive mantle and, of course, a lot of of safety to which only good food. Volvo can lay claim. “The Chicago Auto “While our Show was an annual safety leadership is tradition for my family unquestionably what and it spurred my love for underscores everything cars—especially muscle we do at Volvo, we know cars,” recalled Maloney. that consumers look for “In fact, while I was in college, I drove a 1973 Plymouth Duster more than safety,” he continued. “They look for, well, ‘looks.’” 340. Loaded with torque, it was a four-speed with American The Volvo Concept You, which was on display in Chicago, Racing wheels. Today, my tastes in power and performance are is a bold step that gives a nod to the future of Volvo design. unchanged—only with Swedish muscle and the S60 R-design The Concept You combines a sleek, coupe-like exterior with a that I drive. My heart still jumps when I think about the beautiful luxurious, high-tech interior that keeps the driver in command growl it made ripping down via intuitive, smart pad the highway!” technology. Stefan Jacoby, Maloney pointed that Volvo Car Corporation’s out because it’s something president and CEO, has we all can relate to. He made it clear that the said we all have an affinity brand will have a gasoline- for cars, nearly everyone powered plug-hybrid on has a car story to tell, and the U.S. market in a few the Chicago Auto Show is years, but he has yet to where many of those stories determine in which model are born for thousands of it will debut. visitors each year. “To summarize,” Maloney said it’s fitting concluded Maloney, that the nation’s largest and “This is an exciting longest-running auto show time for the industry, an would serve as a platform exciting time for Volvo. to communicate that the And Chicago is an ideal U.S. auto industry is on very solid footing by showcasing the fun, venue to highlight where we’re collectively headed dynamic, customer-centric products we all see and enjoy here as automakers. in Chicago. “Here in Chicago, we can enjoy our connection to this In the broad picture, the auto industry is positioning for strong industry, from the people we meet to the cars we get to see days ahead, led by advances in technology; vehicles that address and drive, and to share our enthusiasm with others. Yes, we are the lives and purchasing decisions of consumers; and an overall here—and will continue to be—at the Chicago Auto Show, the vision to adapt more quickly to an ever-changing marketplace. biggest consumer show in the nation.” 2012 Chicago Auto Show an Indicator of Growing Economy If the 10-day run of the 2012 Chicago Auto Show is any exhibits packed with new products left consumers primed indication of where the nation’s immediate economic future is for a return to the market. Interactive engagement showed off heading, Americans can look for a uptick led by the auto sector. new technology and taught everyone that the recent recession “We felt a surge even didn’t slow down product before we opened the research and development.” Chicago show’s doors,” Aging Fleet, Gas said Dave Sloan, general Prices, and Readiness of manager of the annual the Industry show held at the mammoth “The age of the nation’s McCormick Place on fleet is now older than Chicago’s lakefront. it has ever been-nearly “Our pre-show sales 12 years,” said Steve were in excess of 200,000 Foley Jr., chairman of the tickets. That led us to 2012 Chicago Auto Show. believe we were going to “Increasingly, people not be in for a good year for only desire new cars, but both our exhibitors and have a need to replace our dealers once the show what’s in their garage. closed its doors.” Even rising fuel prices “The region was may not slow demand. For blessed with cooperative consumers who have been weather, too, which helped drive the nation’s largest auto show putting off a new-car purchase, this may be the incentive to to its most successful finish since 2008,” said Sloan. “The first spur their decision. weekend of our show generally leaves our area franchised new- “High prices at the pump usually hurt new-vehicle sales, car dealer showrooms a bit light. But by the second weekend, “said Foley. “But in an odd twist, the industry may actually be consumers are making decisions on where they’re going to poised to benefit from the situation.” spend their money, and showroom traffic and purchases spike.” Show-goers and consumers nationally are finding that the After the 2011 show, consumers took advantage of the buzz auto industry has never offered a broader selection of fuel- created by the show and subsequently hit dealerships with a efficient internal combustion engines, hybrids, plug-in hybrids fury that took dealers by surprise.
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