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Hey, America: How Long Are You Gonna Drive That?

Hey, America: How Long Are You Gonna Drive That?

By Richard Read's avatar Richard ReadRichard Read July 14th, 2009

Used car salesman

Used car salesman

Enlarge Photo

In 2006, research outfit AutoPacific polled new car buyers in the U.S. and found that 44% intended to hold on to their vehicle for at least four years. One recession later, and the figure has risen to 59%. However, that may not be all bad news--at least not for buyers. The jump might be due to people shopping smarter: according to the company's George Petersen, buyers may be "putting a higher priority on vehicles with a reputation for quality and durability that meets not only their short-term needs, but also their long-term expected needs." And smarter is usually better in our book. [AutoPacific via MP]

Used car salesmanEnlarge Photo In 2006, research outfit AutoPacific polled new car buyers in the U.S. and found that 44% intended to hold on to their vehicle for at least four years. One recession later, and the figure has risen to 59%. However, that may not be all bad news--at least not for buyers. The jump might be due to people shopping smarter: according to the company's George Petersen, buyers may be "putting a higher priority on vehicles with a reputation for quality and durability that meets not only their short-term needs, but also their long-term expected needs." And smarter is usually better in our book. [AutoPacific via MP]

Tags: Buying, Shoppers, sales, car buying, sales slump, surveys



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