TrueCar.com: Seniors Lean Toward American Luxury
A new study by TrueCar.com found that American luxury brands are still more popular among seniors in the U.S.
SANTA MONICA, Calif. — A new study by TrueCar.com found that seniors in America, which the Website defines as age 65 and over, chose vehicles from brands they grew up with. The new-car pricing and trends site reviewed the purchasing behavior of more than 200,000 car buyers from 2009 and 2010.
"Seniors are looking for a luxurious and comfortable vehicle from a brand they are familiar with and trust, and many seniors grew up with these iconic American luxury brands in their parents' garage," said Jesse Toprak, vice president of trends and analysis at TrueCar.com.
TrueCar.com compiled a list of the top brands purchased by seniors in 2009 and 2010 by percentage of buyers. Domestics held the top six positions on the list, with Buick, Lincoln and Cadillac leading the pack.
"We are starting to see senior citizens branching toward non-domestic brands and into luxury and high-performance models by Porsche, BMW and Lexus, but the majority of purchases of American luxury automakers are still made by seniors," said Kristen Andersson, automotive analyst for TrueCar.com.
For more information, visit blog.truecar.com.
Top Brands for Senior Buyers (Age 65 and Over) in 2009 and 2010 | ||
Rank | Brands | Percentage Senior Buyers |
1 | Buick | 57.5% |
2 | Lincoln | 47.7% |
3 | Cadillac | 44.0% |
4 | Chrysler | 36.1% |
5 | GMC | 32.4% |
6 | Chevrolet | 31.2% |
7 | Porsche | 29.5% |
8 | Lexus | 27.6% |
9 | Jaguar | 26.5% |
10 | Hyundai | 25.0% |
Top Models for Senior Buyers (Age 65 and over) in 2009 and 2010 and Current Discount Percentage | |||||
Rank | Make/Model | Percentage of Senior Buyers | MSRP (Manufacturers Suggested Retail Price) | Average Paid* | Percentage Discount from MSRP** |
1 | Lincoln Town Car | 89.6% | $ 48,170 | $ 41,595 | 13.6% |
2 | Buick Lucerne | 86.8% | $ 30,495 | $ 27,558 | 9.6% |
3 | Cadillac DTS | 84.8% | $ 47,600 | $ 38,395 | 19.3% |
4 | Cadillac CTS Wagon | 74.2% | $ 39,340 | $ 35,051 | 10.9% |
5 | Cadillac STS | 71.0% | $ 48,155 | $ 39,148 | 18.7% |
6 | Hyundai Azera | 64.7% | $ 26,270 | $ 24,353 | 7.3% |
7 | Chevrolet Impala | 61.3% | $ 25,320 | $ 21,830 | 13.8% |
8 | Buick LaCrosse | 58.9% | $ 27,990 | $ 25,732 | 8.1% |
9 | Lincoln MKZ | 53.8% | $ 35,520 | $ 32,232 | 9.3% |
10 | Toyota Avalon | 53.7% | $ 33,955 | $ 31,362 | 7.6% |
*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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