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New Study Reveals Shift Toward Used

June 12, 2017

SAN FRANCISCO — A survey of more than 9,000 vehicle owners found that 38% of respondents plan to buy a used vehicle on their next purchase, while 34% plan on buying new. The finding points to a shift away from new cars, according to buyer intelligence firm Autolist.com.

Among individuals under 40 years old, 53% buyers said they will buy a used car next time around. Moreover, younger generations not only want to buy used but also plan to own their vehicles for a shorter amount of time: 60% of centennials and 47% of millennials plan to own their next car for less than five years.

“However, not all automakers are seeing their new car buyers move to used vehicles. Some automakers, such as Cadillac and Audi, are in luck: Over 75% of their buyers plan to own their vehicles for less than five years and then buy a new vehicle again,” the firm noted in its report. “Others, such as Subaru, may also be able to count on buyers returning, but at a later point in time: 73% of owners plan to own their car for over five years and then buy new again.

“As a result, the study suggests that the sluggish start to 2017 might be the beginning of a new normal for new car sales,” the firm added.

Comments

  1. 1. Brooke Walter [ June 20, 2017 @ 12:54PM ]

    Good afternoon,

    I hope this message finds you well!

    I’m Brooke, the outreach coordinator for Autolist.com, and I wanted to thank you for mentioning Autolist in this article. We appreciate your accurate representation of our business and our study!

    Is there any chance you will consider linking to Autolist.com in your article to cite our study and allow your visitors to find more information on our site? We worked really hard to put together our study and would love it if your readers could have easy access to the content!

    For your reference, here's a direct link to our study:
    https://www.autolist.com/subaru-outback#section=news&s=a

    Thanks again for the consideration and have a great day!

    Brooke
    --

    Brooke Walter
    Community Outreach Coordinator
    Autolist.com
    [email protected] | 317.270.3730

 

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