The median age of car buyers has increased steadily over the past four years, according to J.D. Power & Associates. Drivers ages 65 and older buy 25% of new cars and light trucks, up from 18% in 2008. Drivers 45 and older account for 73% of all new car purchases, up from 66% in 2008.
Drivers 65 and older are more likely than younger drivers to favor midsize and larger cars. They’re 25% more likely than drivers 64 or younger to buy domestic vehicles and 9% more likely to buy Korean vehicles.
While the top brands and models of cars are similar across age groups, older adults are much more likely than younger adults to buy certain brands. [Automotive, Mature Market]
Source: “2011 Power Auto Offline Media Report,” J.D. Power & Associates, John Tews, Director, Media Relations, 2625 Townsgate Rd., Westlake Village, CA 91361; 805-418-8599; media.relations@jdpa.com; www.jdpower.com. Price: This data was customized for Research Alert. To purchase research, call sales at 805-418-8156 or email: information@jdpa.com.
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