Why Buy a Vehicle? Because I Want One!
Ward's Dealer Business, Jun 1, 2005 12:00 PM

The No.1 reason many consumers buy a new car is simply because they want one, according to a study by Vertis, an advertising and marketing firm.

Pure desire will lead 36% of new-car purchasers to buy a vehicle within the next 12 months, says the survey of 2,000 adults.

Eight percent say they are motivated by mechanical problems with their current vehicle, 11% because they need one for work and 4% because they have a new driver in the family.

Only 5% plan on making a purchase within 12 months based on lower prices, lower interest and financing or price incentives.

For people born after 1976, 24% of single Generation Y men compared with 16% of Gen Y women say they plan to purchase a new vehicle within a year.

Thirty-two percent of Generation Xers (people born after 1964) say they are motivated to visit a dealership based on price incentives; 5% more than the average adult.

Gen Xers are 9% more likely than total adults to be motivated by a special financing offer while Generation Yers are 6% more likely than total adults to be so motivated.

Of younger Baby Boomers (those born after 1955), 21% say a rebate offer motivates them to visit a dealer when shopping for an automobile, compared to 16% of total adults. Gen Y adults are 5% more likely to be lured by a special trade-in offer.

Surveyed consumers planning to buy a new vehicle in the next 12 months are asked what motivated their purchase decisions.

		Total Adults
Price		5%
	Prices are lower now	2%
	On Sale	0%
	Rebates	0%
	Lower Interest/Financing	1%
	Price Incentives	1%
Vehicle		49%
	Just want a new auto	36%
	Like new styling	1%
	Current auto has mechanical problems	8%
	Current lease is expiring	4%
Personal		19%
	Need a vehicle for work	11%
	Another driver in the family	4%
	Can afford a better vehicle	3%
Miscellaneous		27%
	Better Mileage	1%
	Present vehicle is old	4%
	Need larger vehicle	2%
	Other	19%
Source: ©2005 Vertis Customer Focus®: DM 2005