Semiconductor chip shortages have greatly impacted the automotive industry. Because of supply disruption, vehicle inventory levels are down 41%.
Despite this, searches for new and used vehicles continue to grow, with used inventory overall seeing less disruption than new.
This disruption has led to a 71% growth in customers looking to sell their vehicles,
with 88% of sell/buyback volume being attributed to non-brand queries.
With car owners broadly seeking a solution to selling their vehicles, ad engagement is high, with a 2x increase since October 2020.
Ensure your brand has a strong share of voice to capitalize on this consumer interest!
Download the full insights for additional strategies on how to adapt to this industry disruption, along with full search trends and product recommendations.