Car Purchasing Statistics – New Vehicle Purchase Data

An article by digitaltrends.com reports that “a lot of those hip new car ads aimed at younger buyers might be missing the mark – considering that most people who actually purchase new vehicles are older than 50.”

“According to research done by Michael Sivak, a research professor with the University of Michigan Transportation Research Institute (UMTRI), while adults under age 50 have long been the ideal target for advertisers, older consumers are much more likely to buy new vehicles. Currently, most vehicles in the US are purchased by those aged 45-54. Those aged 55-64 account for 23 percent of new automobile purchases.”

Is this because younger people are driving less? Are they spending less on their cars? Do younger drivers have other things they would rather spend their money on than a new car? All we know is that maybe marketers should be rethinking their targeting strategies.

We want to hear from you. Are you a younger driver who’s not planning to buy a new car? Tell us why on our Facebook page! Regardless of the type of car you’re driving, if you’re driving at all, make sure you’re insured. Get state-minimum auto insurance from SafeAuto. For a free quote, visit our website at www.safeauto.com.

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