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Aging Buyers Want Quality, Convenience, Study Shows

April 9, 2014

ROCHESTER HILLS, Mich. — New data from Foresight Research revealed that almost half of new auto purchasers are adults 55 years of age or older. The research firm noted that its findings will have a big impact on the purchase influencers and processes of buying and servicing cars.

Foresight issues surveys weekly in markets all over the United States from September through April. Its recent polls included some specific questions about service and garnered strong responses from 55 and older car owners. For instance, when asked where they go for routine service, more than one-third of respondents in that demographic indicated that they take their cars to their dealership. Another quarter of respondents said they take their vehicles to a local repair shop.

"It is the 'whys' that are really interesting," said Nancy Walter, vice president of business development at Foresight Research. "When asked why they chose the place they go for service, the 55 and older car owner owners said they value quality and convenience."

Specifically, senior adults list convenient location, quality of service, and good customer service as their Top 3 factors when selecting a repair facility. They also value skill, training and expertise of technicians, use of genuine parts, and loaner cars/shuttles at a rate of 20% to 50% more than the total population.

"Price is just lower on the list for the mature adults. It ranks fourth on why they go where they go for service, while, for 18- to 34-year-olds, price is a definitive No. 1,” Walter said. “In fact, adults 55 or older were significantly less likely than the total population to cite "price matching/same price as other maintenance shops" as something that would encourage them to take their vehicle to a dealership for routine maintenance if they currently were going somewhere else.”

For more, visit www.foresightresearch.com.

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