TrueCar.com: Baby Boomers Gravitate Toward Luxury Vehicles
A new study by TrueCar.com indicates that baby boomers are into luxury and eye-catching appeal.
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 | ||
|
| Percentage of Baby |
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 | |||||
|
|
| MSRP |
| Percentage |
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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