Car Owners Survey: More Planning to Buy New Cars Soon

Recent studies have shown that many of the cars on the road now are older on average than they have been in recent years. With rising transportation costs and the current state of the economy, it’s easy to see why this could be the case. So how many car owners are driving older cars? And could this trend change anytime soon?

car owners

Car Owners

In Ask Your Target Market’s latest survey, 50% of US respondents said that they currently own or lease a vehicle. 19% said they own multiple vehicles. 8% don’t currently own one, but said they have in the past. And 23% said they’ve never owned a vehicle.

Vehicle Age

Of those who currently have a vehicle, 12% said they bought it within the past year. 25% said they bought their current vehicle 1 to 2 years ago. 20% bought their current vehicle 3 to 4 years ago. 21% bought their vehicle 5 to 6 years ago. 5% bought their vehicle 7 to 8 years ago. 8% bought their vehicle 9 to 10 years ago. And 14% bought their current vehicle more than 10 years ago. In a January 2012 survey, just 10% had purchased their vehicles more than 10 years earlier.

But just because some vehicles were bought in more recent years doesn’t mean that they are necessarily new. Just 41% said that they bought at least one of their current cars new. And 61% said that their current vehicle was bought used. In the January 2012 survey, 63% said that their current vehicle had been bought used.

Potential Buyers

In general, just 15% of respondents said they definitely plan to buy a vehicle within the next 2 years. 29% said they probably will buy a vehicle within the next couple of years. 38% said they probably won’t buy a new vehicle in that time. And 19% said they definitely won’t. 32% of those who don’t currently own a vehicle said they will likely buy one in the next few years. Of those who could potentially buy a vehicle in the next few years, 53% said they plan to buy a new car, and 47% plan to buy used.

You can view the complete survey results in the widget below and be sure to click “Open Full Report” to take advantage of all the chart and filter options.

Photo Credit: 110330 Mauritania used car dealerships back in business from Flickr

What do you want to know? If you need some consumer insights on a particular topic, let us know in the comments below and we’ll consider it for an upcoming survey post.

Results were collected on August 7 via AYTM’s online survey panel.

Anne Pilon brings 3 years experience to AYTM as a blogger and journalist. She has a degree in journalism and marketing communications from Columbia College in Chicago and enjoys writing about business, marketing, social media, and art.