Almost half of Americans will delay next vehicle purchase
Dec. 22, 2010—Almost 45 percent of consumers will delay their next vehicle purchase, according to Kelley Blue Book’s Market Intelligence survey.
Due to holiday spending, which is down about $100 per person in 2010 compared to 2009, 44 percent of Americans delaying a vehicle purchase will wait seven or more months to buy a car, and 25 percent will wait for four to six months.
Purchasing delays are due to:
• Poor economy;
• Unstable household income;
• Giving other payments a higher priority.
"The latest Kelley Blue Book Market Intelligence survey data shows that the slow economic recovery is taking its toll on shoppers, not only delaying upcoming vehicle purchases but also dipping into their holiday spending plans," said James Bell, executive market analyst for Kelley Blue Book's kbb.com. "Although economic concerns are top-of-mind with U.S. consumers, automakers continue to offer a host of affordable new vehicles and many great holiday deals between now and the end of the year, for those shoppers who are ready to take the plunge into their next new ride."