What you need to know
Over 55 million new and used vehicles were sold in 2015 and many consumers are still eager to buy in the coming year. Yet the landscape is shifting, and the consumer attitudes that led to strong sales over the past five years are unlikely to be repeated. Two main market drivers, pent-up demand/vehicle replacement and desire for fuel efficiency, are less important to consumers in the current market. New vehicles with features based on innovative technology are most likely to attract the next generation of buyers.
Readers of this Report will learn how consumers view the car purchasing process and the major factors that influence their decisions to buy a car. New opportunities and marketing strategies are covered with a focus on consumer attitudes and potential for new demand. Attitudes based on demographics are explored in detail to show how marketers might best position services to specific segments of the market.
Definition
This Report builds on the analysis presented in Mintel’s Car Purchasing Process – US, April 2015. Mintel defines car purchasing as the act or the intended act of buying a new, used, or certified pre-owned (CPO) vehicle.
Types of vehicles referenced in this Report include the following: all cars, station wagons, sedans, pickup trucks, vans, minivans, crossover utility vehicles, and sport utility vehicles (SUVs).
