Less New Cars, Less Frequently

Posted by ross | E-Mail
Americans are going to be holding onto their new cars longer, according to this article reporting from a survey by AutoPacific, "The number of new-car buyers planning to keep their rides more than four years has risen to 59 percent, according to a study released Tuesday by California marketing research firm AutoPacific. That's an increase from last year, when about 45 percent of new buyers intended to wait more than four years for their next purchase, and it's up from 2005's tally of 46 percent."  I don't know about anyone else, but these numbers are shocking to me.  Not because they are so low, but because they are so high!  I can't believe that ONLY 59% of people plan to keep their cars longer than 4 years.  Is it that normal to buy a brand new automobile?  Is it really cutting edge to hold onto a 4 year old vehicle?  In my world, a 4 year old vehicle is considered brand spankin new.  In fact, its not until a particular vehicle begins making appearances on syndicated television that it should be considered old...and even then its considered "vintage" and worth having simply to be seen in.  Its statistics like the ones mentioned in this article that make me realize two things: 1. How much money I don't have in comparison to most Americans, or at the very least how much more unwilling I am to buy a new car compared to most, and 2. How propped up the auto industry has been by consumer willingness/ability to buy new crap.  This of course is true of any industry nowadays, and as long as more is ALWAYS better, people (and industry) will suffer when there isn't much to speak of. 
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Posted on: 7/15/2009 at 9:54 AM
Categories: Car Buying | The Smart Consumer
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