After the roller-coaster ride we’ve all taken the past two years called the global economy, we’re starting to witness an interesting trend at MPG Motors. We are seeing an increase in floor traffic, in sales, excitement and interest coming through the front door. It doesn’t matter if it’s a 50cc scooter, a 220cc Blur, a used ride or a 650cc bike, lately they have all been interesting to someone.
And what we are seeing and hearing from other dealers too was a steady increase in floor traffic starting in June and building through August. For example, we sold one scooter for sure and probably two – one Monday! What is changing? It’s a determined, eyes-opened customer that seems a little tougher than last year or even earlier this year. Less frightened, more committed to a course of action. They are shopping for quality, comparing prices and features but then they pull the trigger.
Here is what I think has changed…
Besides a home purchase, buying a car is usually pointed to as the “second largest purchase” a person makes. I looked over some car ads from local automobile dealerships. 48, 60, 72 month financing is “available” – thanks! Thank-you very much!
Down payments for both automobile purchases and for leases seem to run in the $2,000-$3,000 range. Monthly payments generally start around $200 / month and go up from there.
What I think is occurring is that the average person decides that no economist knows what is going to happen 6 years from today. Consequently they don’t want to commit to 72 $200 monthly payments.
But they know that today, they want something to “Get to work”, “Get to school” or “Get a smile!” A vehicle that makes them laugh! So, they are getting a vehicle – an entire transportation solution – for the same amount of money that they would have to pay to even start an automobile purchase or lease. So, in our door they come!
A breath of fresh air! You can see it in the eyes. Transportation and fun for the down money on a car! We’ve just reduced prices to bang out some bikes – Buddy 125’s for $2300, Buddy Internationals for $2800, new Hyosung’s starting at $3299 (while supplies last). We talk about PA inspections that only cost $25 instead of $70 for cars. Insurance that runs $160/year – with collision and not just liability. Two years of worry-free driving and even roadside assistance with some of our products. All for an average selling price that is the same as the down payment on a car.
Couple that with those price reductions that we just rolled out – and the end result is a number of people are going to have a lot more money to spend where they want and on what they want instead of paying off a loan!
No, I don’t think they would be as much fun as a Hyosung GT650R, or a Stella, or a SYMBA. But they have wheels and a motor so I feel I am genetically bound to support NEV’s (neighborhood electric vehicles) and they are legal in Florida, California, Texas, Arizona, New Jersey BUT NOT IN PENNSYLVANIA! Pennsylvania is behind and this