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Drivers are looking to cut a lot of things to save on fuel, but vehicle size isn’t one of them. According to a poll conducted by the Consumer Reports National Research Center, most car buyers are planning to purchase the same size of vehicle as the one they are currently driving.
The results show that 56 percent of those drivers polled said they were going to keep their next vehicle the same size as their current model. Only one-quarter plan to go a size smaller and 19 percent are going to super-size to a larger model. Breaking it down to age and location, older drivers and Northeast buyers (gas prices tend to be higher in this area) are more likely to buy the same size, while drivers aged 18-34 years were planning on going bigger.
Looking at the trends, it is likely that older buyers are cutting costs (retirement pending and kids out of the house) so they don’t need a large vehicle. On the opposite end of the spectrum, younger car buyers are going bigger due to the fact that they are starting families and need all the room they can get.
Are you planning on buying a new vehicle this year? Are you going smaller, sticking with the same size or going with a larger model? Let us know in the comments section below.
[Source: Consumer Reports]
Women go for substance while men go for looks – we’re talking about cars, not relationships. And based on the information released by TrueCar.com, women choose practicality over flashiness when it comes to their ride.
Based on over eight million retail purchases in 2010, TrueCar.com’s study examined gender differences when it came to auto purchases. “The study shows that women car buyers are more cost-conscious and purchased fuel-efficient vehicles while male buyers were completely the opposite, purchasing vehicles that were either big and brawny, like a large truck, or chose a high-priced, high-performance vehicle,” said Jesse Toprak, Vice President of Industry Trends and Insights at TrueCar.com.
The results of the study aren’t surprising – women went for the inexpensive and practical models. MINI came up on top with 47.9 percent. Other cars making the female top 10 list were the Volkswagen New Beetle, Kia Spectra, Nissan Rogue, Volkswagen Eos, Hyundai Entourage, Volvo S40, Jeep Compass, Honda CR-V, Nissan Sentra and the Hyundai Tucson.
As for the men, they went the opposite way and picked cars such as the Porsche 911, GMC Sierra, Chevrolet Corvette, Chevrolet Silverado, Ford F-Series, BMW M3, Ford Ranger, Toyota Tundra, Dodge Ram and the Audi S5. They were also more likely to go with exotic brands.
Based on the results, sales of exotic cars to women were expectedly low. Women purchased just 6.4 percent of the Ferraris sold, 7.2 percent of Lotus models sold, 7.4 percent of the Lamborghinis, 8.0 percent of the Maybachs and 9.3 percent of Rolls-Royce models.
Yesterday, we told you about the rising influence women of different ethnicities have when it comes to vehicle purchases. And now, R.L. Polk & Co. has released new information about the correlation between women and the Asian automakers.
The Asian OEMs in question are Toyota, Lexus, Honda, Acura, Hyundai, KIA, Nissan, Infiniti, Subaru and Mazda, and these companies make up the top picks across all ethnic groups. On the high end, Vietnamese take the top 21 consecutive spots when it comes to Asian brand affinity, while African American women round out the low end of with just seven model selections.
Ironically, however, Asian women aren’t buying Asian cars, they instead go for European Brands such as BMW, Mercedes or Volkswagen models. These European brands come in as the 13th choice for Chinese, Indian and Korean women, and as the 22nd selection for Vietnamese women.
The only women who thought that domestic brands were the way to go were African American and Hispanic women. Making these group’s top 10 picks were the Chevrolet Malibu (#8 for African American women) and the Ford F-Series (#10 for Hispanic women).
The latest trend driving auto sales growth is focusing on women from a diverse set of ethnicities. In studies done by R. L. Polk & Co., African-American, Asian and Hispanic women are making headway when it comes to making vehicle purchases for their families.
Polk’s findings show that vehicles purchased by these groups have increased 4.7 percent – 40.7% in 2006 to 45.4% in 2010. The studies the company conducted look at a five-year period (2006-2010) and their findings show that African American women have led the way since 2006. In fact, they are nearly on par with their male counterparts, constituting an average of 47.5% of the African-American community auto purchases.
Another interesting fact that the findings revealed was the auto purchases made by Asian women since 2008. Between 2006 and 2010, these women count for more than 14 percent of the Asian auto buys from their male peers. This puts them ahead of African American women, as they control 49 percent of the Asian light vehicle market. Coming in third is Hispanic women, with a current 41.6% share. Women who are not classified as non-African American, non-Asian or non-Hispanic Women gained two percentage points to bring them to a 36.9 percent share.
So what kinds of cars are these women buying? Find out the top five brands after the jump.
Are you more likely to by a car that’s been made in the good ol’ U.S. of A.? Chances are the answer is “yes,” according to a recent Harris Poll survey.
It’s cool once again to show your sense of national pride, and advertisers are banking on it. When a product says it’s “Made in America,” we are more likely to buy that product. And foreign carmakers are picking up on this trend and cashing in. By building cars in the U.S., they hope to attract these proud American customers. Just a few examples of carmakers who are putting so much faith in this trend include Kia, who is opening up a plant in West Point, and Volkswagen, who will soon open its new plant in Tennessee.
As for the motivation for these carmakers, the numbers speak for themselves – about 61 percent of Americans say they are more likely to purchase something when it is “Made in America,” while only 3 percent say they are less likely to buy it. And sitting on the fence is 35 percent of U.S. adults who say they are neither more nor less likely to purchase a product when an ad emphasizes it is “Made in America.”
Another interesting factor that plays a role in purchasing American products is age. The older you are, the more likely you are to buy U.S.-made goods. About three-quarters of U.S. adults aged 55 and over say an ad saying a product is “Made in America” would make them more likely to buy a product. That goes for two-thirds of those aged 45-54 and three in five of those 35-44. Younger Americans are the least likely to buy American, with just 44 percent of those ages 18-34 saying an ad emphasizing a product is “Made in America” would make them more likely to purchase it.
There are, of course, other reasons for automakers to build their vehicles where they sell them, including the obvious cost of shipping a vehicle for overseas, as well as tax incentives. Nevertheless, the “made in America” numbers don’t lie.
[Source: Media Post]