Car buyers are pretty loyal – they tend to stick with the same brand when it comes time to buying a new car. But if they were to switch sides, a new Consumer Reports survey says that higher quality, better fuel economy, and a lower price are the big three factors influencing their decision.
This telephone survey was conducted by the Consumer Reports National Research Center, and they interviewed more than 1,700 adults whose household owns at least one vehicle.
The results showed that brand attachment varies by age and gender. Women are more likely to stick to a brand – 54 percent of women would purchase a new car that is the same make as they currently own. And brand loyalty seems to be prevalent in older drivers as well. According to drivers over 35 years old, over 50 percent plan to stay with the brand they already own. Younger drivers are more fickle – only 41 percent of drivers aged 18 to 34 years old would buy the same brand again.
It also seems that money can’t buy you love or loyalty. Results from this survey show that household income does not play a role in car brand loyalty. When compared to drivers who pulled in a modest salary, affluent consumers were nearly equal in their attachment to a brand.
What does come from this research is it proves that car buyers are, not surprisingly, attracted to the highest quality and most value for the money. Basically, our purchasing influences are those that can save money up front, at the pump, and in the long run. For more car buying motivators, see the graph after the jump.
[Source: Consumer Reports]
|Better fuel economy||73|
|Better safety record||65|
|More standard equipment||62|
|Better overall reputation||61|
|Generous trade-in allowance||57|
|Bigger cash rebate||48|
|Local dealership reputation||47|
|Convenient dealership location||37|