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TrueCar.com: Baby Boomers Gravitate Toward Luxury Vehicles

July 26, 2011

SANTA MONICA, Calif. — Baby boomers, which TrueCar defines as people born between 1947 and 1965, are in the market for vehicle touting a more luxurious and eye-catching appeal, according to a new study by TrueCar.com. The study reviewed the purchasing behavior of more than 200,000 car buyers from 2009 and 2010.

"Many baby boomers are experiencing another phase in their life, the nest is empty and because they have reached a heightened income level giving them both time and financial freedom, they chose vehicles that provide them with a luxurious, safe feel and a youthful, sporty drive," said Jesse Toprak, vice president of trends and analysis at TrueCar.com.

The car pricing and trends Website compiled a list of the top brands baby boomers purchased in 2009 and 2010 by percentage of buyers. At the top of the list of brands were Volkswagen, Land Rover and Audi.

"Baby boomers’ buying preferences have shifted as their lifestyles have changed and can now afford the luxury vehicles they had been desiring but were unable to purchase due to priorities with raising a family," said Kristen Andersson, automotive analyst for TrueCar.com.

For more information, visit blog.truecar.com.

Top Brands for Baby Boomer Buyers

(Born 1947-1965) in 2009 and 2010


Rank


Brands

Percentage of Baby
Boomers Buyers

1

Mercedes-Benz

56.0%

2

Jaguar

55.6%

3

Porsche

54.7%

4

Ford

53.9%

5

Suzuki

53.7%

6

BMW

53.4%

7

Dodge

52.5%

8

Lexus

52.0%

9

Mini

51.7%

10

Volvo

51.5%

 

 

Top Models for Baby Boomer Buyers (Born 1947-1965)) in 2009 and 2010 and Current Discount Percentage




Rank




Make/Model


Percentage of Baby
Boomers Buyers

MSRP
(Manufacturers
Suggested
Retail Price)




Average Paid*

Percentage
Discount
from
MSRP**

1

Porsche Boxster

84.2%

$59,550

$56,149

5.7%

2

BMW 6 Series Convertible

79.8%

$91,375

$89,075

2.5%

3

Mercedes SL Roadster

69.9%

$103,475

$98,445

4.9%

4

Land Rover LR2

67.0%

$41,500

$39,308

5.3%

5

Mitsubishi Eclipse Convertible

66.5%

$28,774

$25,353

11.9%

6

Audi A5/S5 Cabriolet

66.1%

$43,425

$42,524

1.8%

7

Volvo C70 Convertible

65.3%

$44,425

$42,130

5.2%

8

Chevrolet Aveo Hatchback/Aveo5

65.1%

$12,875

$10,946

15.0%

9

Mercedes M-Class Hybrid

64.0%

$56,685

$54,675

3.5%

10

Chevrolet Corvette

63.8%

$49,995

$45,017

10.0%

*Average paid is the estimated average transaction price of a vehicle after incentives.

** Percent Discount from MSRP is rounded to the nearest tenth

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