Why Does a Consumer Buy a New Vehicle These Days?

Among the shrinking number of consumers buying new vehicles these days, the motivation for doing so differs from that of people who bought one four years ago.

BIGresearch polling quizzed people who bought a vehicle in the past six months on their main reasons for doing so. The highest vote (29 percent) went to “I wanted a vehicle with better gas mileage.” When the research company posed the same question in June 2004, 16 percent cited this motivation. The top vote-getter then (at 34 percent) was “My old car had high mileage.” That factor was the runner-up in the new poll, drawing 28 percent of the mentions.

Filling out the top five in the new survey: “I was tired of my old car, I wanted something new” (18 percent), “Financing deals/incentives were too good to pass up” (16 percent) and “My old car was always in the repair shop” (16 percent).