The new car market is booming, fueled by pent-up demand as the economy continues its post-recession growth. The constant addition of new tech, safety, and convenience features are an additional market driver beckoning consumers into new cars. Leasing, too, has grown, as buyers look to get into new cars more often while paying less. Finally, more liberal lending is allowing cash-strapped buyers to get into the market, but there could be consequences down the road.

For the purposes of this report, a “new car” will mean any newly assembled vehicle that has never been titled or registered before purchase and comes with a new vehicle warranty that initiates when the vehicle is sold.

“Car,” as defined for the purposes of this report, will stand for any of the following vehicles that are bought through retail avenues and are intended for noncommercial use only: subcompact, compact, midsized, or full-sized sedans, hatchbacks, or convertibles; compact, midsized, or full-sized truck-based SUVs; compact, midsized, or full-sized car-based crossovers; minivans or MPVs; compact, midsized, or full-sized pickup trucks or vans; any type of hybrid electric, electric, or alternatively fueled vehicle; any type of luxury vehicle; any type of classic car; or any variation above, so long as it’s for noncommercial usage.

Large trucks and recreational vehicles are not covered, regardless of usage type. The report also excludes private, or by-owner, vehicle purchases, regardless of vehicle or usage type.