Table of Contents
Executive Summary
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- The issues
- The new car market is booming, but will the boom last?
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- Figure 1: Total US sales and fan chart forecast of market, at current prices, 2010-20
- Is there a bubble about to burst?
- The opportunities
- Sales are going to stay strong, so the time to strike is now
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- Figure 2: Average age of passenger cars and light trucks, 2002-13
- Finding prime customers is key
- What it means
The Market – What You Need to Know
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- New car sales are on the up, up, and up
- Aging fleet, pent-up demand, and economic growth are bigger drivers
- Could there be trouble ahead?
Market Size and Forecast
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- New car market growth isn’t over yet
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- Figure 3: Total US sales and fan chart forecast of market, at current prices, 2010-20
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- Figure 4: Total US sales and forecast of market, at current prices, 2010-20
Market Breakdown
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- Compact-crossover growth is hot
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- Figure 5: Total US sales and fan chart forecast of light truck market, at current prices, 2010-20
Market Factors
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- Americans are more willing to spend
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- Figure 6: Real gross domestic product and related measures: percent change from preceding period
- Dropping fuel prices drive the market
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- Figure 7: Weekly U.S. fuel prices, June 1, 2015-Aug. 31, 2015
Key Players – What You Need to Know
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- The Detroit Three is powered by trucks
- Crossovers are the new “it” vehicle
- Large cars aren’t living large
Manufacturer Sales of New Cars
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- GM, Ford, Toyota are strong
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- Figure 8: U.S. market light vehicle deliveries, June 2015
What’s Working?
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- Trucks, crossovers buoy automakers
What’s Struggling?
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- Large cars take a big hit
What’s Next?
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- Crossover segment shows no sign of slowing down
The Consumer – What You Need to Know
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- Today’s consumer has money on the mind
- Buying trumps leasing, as consumers want to make it theirs
- Smartphones, safety rule the tech roost
Factors Influencing New Car Purchase Decisions
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- Consumers thinking about the future when looking at new cars
- Attitudes toward debt influence the new car market
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- Figure 9: Factors influencing vehicle purchase, May 2015
- Gen Xers looking for reliability, affordability
- Blacks want lower payments, Whites want longer warranties
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- Figure 10: Factors influencing vehicle purchase, by demographics, May 2015
Brand Perception
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- Ford, Toyota are preferred brands
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- Figure 11: Car brand, May 2015
Buying versus Leasing
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- Are buyers buying, or leasing?
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- Figure 12: Plans to buy or lease, May 2015
Interest in Tech
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- What tech features are buyers pursuing?
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- Figure 13: Interest in new car technology, May 2015
- Parents more into info tech than safety tech
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- Figure 14: Interest in new car technology, by demographics, May 2015
- Hispanics, Blacks more interested in infotainment, Wi-Fi
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- Figure 15: Interest in new car technology, by demographics, May 2015
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Fan chart forecast
- Consumer survey data
- Terms
Appendix – Consumers Table
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- Figure 16: Reasons for leasing, May 2015
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