TrueCar.com Study: Gen X Shoppers Prefer Family-Friendly Cars
A new study by TrueCar.com indicates that Gen X shoppers prefer luxurious, spacious cars to accommodate their families.
SANTA MONICA, Calif. — A new study by TrueCar.com indicated that Generation X shoppers — born between the 1960s and early 1980s — prefer vehicles that offer spacious room to accommodate their families. The car pricing and trends Website’s study reviewed the purchasing behavior of more than 200,000 car buyers from 2009 and 2010, according to the company.
"Generation X consumers prefer vehicles that fit their changing lifestyles and helped spur the demand for automakers to build larger, roomier vehicles," said Jesse Toprak, vice president of trends and analysis at TrueCar.com. "This post-baby boomer generation has greater purchasing power and values practical luxury and safety features for their families."
TrueCar.com also compiled a list of top brands purchased by Generation X buyers in 2009 and 2010. Leading brands included Volkswagen, Land Rover and Audi.
"Generation X buyers have a work hard/play hard mentality and chose cars that were comfortable and convenient for their lifestyle,” said Kristen Andersson, automotive analyst for TrueCar.com. “They chose larger, more luxurious cars to take their families on vacations or kids to play soccer with ample room to store equipment and luggage."
For more information, visit blog.truecar.com.
Top Brands for Gen X Buyers (Age 28-45) in 2009 and 2010 | ||
Rank | Brands | Percentage of Gen X Buyers |
1 | Volkswagen | 43.3% |
2 | Land Rover | 41.5% |
3 | Audi | 40.8% |
4 | Mazda | 38.4% |
5 | Jeep | 38.3% |
6 | Infiniti | 37.8% |
7 | Acura | 37.4% |
8 | Nissan | 37.1% |
9 | Honda | 36.7% |
10 | MINI | 36.0% |
Top Models for Generation X Buyers (Age 28-45) in 2009 and 2010 and Current Discount Percentage | |||||
Rank | Make/Model | Percentage of Gen X Buyers | MSRP (Manufacturers Suggested Retail Price) | Average Paid* | Percentage Discount from MSRP** |
1 | Volkswagen Routan | 66.0% | $27,750 | $26,536 | 4.4% |
2 | BMW M3 Sedan | 63.6% | $56,775 | $53,544 | 5.7% |
3 | Nissan Quest | 60.0% | $28,560 | $26,362 | 7.7% |
4 | Nissan Armada | 59.9% | $39,465 | $33,640 | 14.8% |
5 | Honda Odyssey | 58.9% | $28,885 | $28,195 | 2.4% |
6 | Toyota Land Cruiser | 57.9% | $69,895 | $67,404 | 3.6% |
7 | Toyota Sienna | 53.9% | $25,870 | $23,953 | 7.4% |
8 | Volvo XC90 | 51.5% | $39,275 | $37,165 | 5.4% |
9 | Infiniti QX56 | 49.9% | $59,690 | $57,138 | 4.3% |
10 | Chevrolet Aveo | 48.5% | $12,725 | $10,886 | 14.4% |
*Average paid is the estimated average transaction price of a vehicle after incentives.
** Percent Discount from MSRP is rounded to the nearest tenth
More Auto Finance
July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Auto Refi Savings Surge
Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.
Read More →
Subaru Enters Lending Business
The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.
Read More →
Positive Equity Reaches Record High
Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.
Read More →
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →