Seller’s Market: 33% of Americans Want New Cars
Nearly one-third of licensed U.S. drivers are thinking about buying a new vehicle in 2018 and 15% said they will, according to a new survey commissioned by GM BuyPower Card.
Workers at General Motors’ Arlington, Texas, assembly plant applaud as the OEM’s 11 millionth vehicle, a 2018 Chevrolet Tahoe, rolls off the line. A study commissioned by GM BuyPower Card found that 33.2% of U.S. drivers want to buy a new car or truck this year. Photo courtesy General Motors Co.
DALLAS — The 2018 New Year’s Driving Resolutions Survey commissioned by the GM BuyPower Card — which included 1,134 licensed drivers in the U.S. — revealed that nearly a third of respondents (33.2%) indicated they “should" get a new vehicle in 2018, while 15% indicated they “will” purchase or lease a new car or truck this year.
For those gearing up for a new-vehicle purchase, nearly a third (27.2%) of those surveyed agree that they need to start saving in 2018. In fact, nearly a quarter (22.6%) of respondents are already saving toward the purchase or lease of a new vehicle.
Other highlights of the survey include:
44.4% of respondents expect to see more fuel-efficient vehicles on the road, representing the top vehicle trend of 2018.
40.9% of respondents expect environmentally friendly vehicles (e.g. electric cars) to become more mainstream in 2018.
31.9% cite self-driving vehicles as the third biggest trend for 2018.
American drivers are looking more toward SUVs as their top vehicle choice, with 31.8% naming SUVs the No. 1 “dream vehicle” they would want to lease or purchase in 2018; trucks were second at 14.9% and luxury vehicles and sports cars registered at 11.7% and 10.4%, respectively.
The survey was commissioned by the GM BuyPower Card from Capital One. Cardholders can accumulate 5% earnings on the first $5,000 in purchases and 2% after that, all to apply toward the future purchase or lease of a new Chevrolet, Buick, GMC or Cadillac vehicle.
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