Car Owners Survey: Many Have Cut Back on Transportation Costs

Americans have had to make many adjustments to their daily lives due to the economy. Transportation has definitely not been left out of that equation. Car owners are keeping their vehicles for a longer period of time, driving less, and buying used vehicles in order to save money.

used cars

Owning and Leasing

In Ask Your Target Market’s latest survey, 86% of respondents identified themselves as drivers. Of those respondents, 77% own a car, 13% own multiple cars, 8% borrow vehicles, 2% lease, 1% own and lease, and less than 1% lease multiple vehicles.

Used Cars

When asked how long they’ve owned their current primary vehicle, only 13% replied less than one year. However, 37% have only been driving their vehicle for one to three years, and 28% have had their vehicle for four to six years. Only 11% said seven to nine years, and another 11% said ten years or more. Even though some haven’t owned their current vehicle for very long, most of them (63%) bought their car used to begin with.

Transportation Costs

It’s no surprise that 65% of respondents said they’ve had to cut down on transportation costs due to the economy. The widget below shows the results of the AYTM.com survey in full. Be sure to click “open full report” for full details.

Photo Credit: Jones Pontiac/Honda, Lancaster, Pennsylvania, 1980 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 January 18 via AYTM’s online survey panel.

ABOUT THE AUTHOR: Anne Pilon
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.