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New Study Shows That We're Keeping Cars Longer


2002 Chrysler Concorde

2002 Chrysler Concorde

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Sales of luxury brands like Audi and BMW may be up, but those of us Americans not in the “luxury car” tax bracket are keeping our cars longer, according to a recent study by AutoMD.

Their survey asked over 3,000 participants questions relating to the anticipated lifespan of their current car versus previous cars, how many more miles they expect to get from their current ride and, if applicable, why they’re shopping for a new car in 2011.

The results should surprise no one, and seem to indicate that most Americans aren’t feeling any economic recovery just yet. In fact, most seem to be putting off spending money unless it’s absolutely necessary, which doesn’t bode well for sales of high profit car dealer add-ons, like extended warranties.

The survey showed that:

Car Owners Expect Their Current Vehicle To Last Longer Than Previous Ones

Mileage versus Last Car

Mileage versus Last Car

 

Over 67 percent of those surveyed plan on keeping their current vehicle for more than 50,000 miles beyond their last vehicle, and only 9.4 percent expected to drive their current ride for fewer miles than their last one.

 

 

Over Half Expect To Drive Their Car Until It Dies

 

How many more miles will you keep your car

How many more miles will you keep your car

 

The trend of upgrading to a new car every few years appears to be over, as over 55 percent of respondents expect to drive their current car until it dies. Another 25.7 percent expect to add at least another 100,000 miles to the clock before giving up their present vehicle.


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