More than half of the new General Motors vehicles sold under a recently ended promotion between the automaker and Costco Auto Program were purchased by people who switched from other brands, the warehouse retailer’s auto sales arm said today.
Additionally, the sale of approximately 58,000 Chevrolet, Buick, GMC and Cadillac cars and trucks to Costco members under the GM Holiday Sales Event represented a 34 percent increase over the previous year’s promotion, Costco Auto said.
The GM Holiday Sales Event ran Oct. 2 through Jan. 4.
Costco Auto regularly offers prearranged prices on new and certified used vehicles for members through a network of more than 3,000 new-car dealerships.
Under the promotion with GM, members purchased vehicles at prices GM typically offers its suppliers. Additionally, those members who also completed a member satisfaction survey received a Costco Cash Card on top of any other incentives for which they were eligible.
The surveys allow Costco Auto to gather information about members’ purchases and intentions.
When asked whether the promotion was a factor in their decision to purchase a GM vehicle vs. a competing brand, more than half said they switched brands, Costco Auto said.
The survey revealed that the single most conquest sales -- 34 percent -- came from comparable Ford models. Toyota models represented 14 percent of conquest sales, and Honda models represented 7 percent. The remaining conquest sales came from a combination of brands.
Last year, Costco members purchased or leased more than 465,000 vehicles through Costco Auto, almost 17 percent more than in 2014.