Baby Boomers Are Buying Their Dream Car, According to TrueCar.com
Nine of the Top 10 Vehicles Purchased Were Luxury or Sports Cars
SANTA MONICA, Calif., July 22, 2011 /PRNewswire/ -- Baby Boomers, which TrueCar defines as people born between 1947 and 1965 and who today are individuals between the ages of 46 and 64, choose vehicles that have more luxurious and flashy appeal, according to a new study by TrueCar.com, the authority on new car pricing and trends. The study reviewed the purchasing behavior of more than 200,000 car buyers from 2009 and 2010.
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"Many Baby Boomers are experiencing another phase in their life, the nest is empty and because they have reached a heightened income level giving them both time and financial freedom, they chose vehicles that provide them with a luxurious, safe feel and a youthful, sporty drive," said Jesse Toprak, Vice President of Trends and Analysis at TrueCar.com.
TrueCar.com was able to compile a list of the top brands by Baby Boomers purchased in 2009 and 2010, by percentage of buyers. Topping the list of brands were Volkswagen, Land Rover and Audi.
The top brands for Baby Boomer buyers in 2009 and 2010 were:
Top Brands for Baby Boomer Buyers (Born 1947-1965) in 2009 and 2010 | |||
|
| Percentage of Baby | |
1 | Mercedes-Benz | 56.0% | |
2 | Jaguar | 55.6% | |
3 | Porsche | 54.7% | |
4 | Ford | 53.9% | |
5 | Suzuki | 53.7% | |
6 | BMW | 53.4% | |
7 | Dodge | 52.5% | |
8 | Lexus | 52.0% | |
9 | Mini | 51.7% | |
10 | Volvo | 51.5% | |
"Baby Boomers buying preferences have shifted as their lifestyles have changed and can now afford the luxury vehicles they had been desiring, but were unable to purchase due to priorities with raising a family," said Kristen Andersson, Automotive Analyst for TrueCar.com.
The top models for Baby Boomer buyers in 2009 and 2010 and the current percentage discount from MSRP are:
Top Models for Baby Boomer Buyers (Born 1947-1965)) in 2009 and 2010 and Current Discount Percentage | ||||||
|
|
| MSRP |
| Percentage | |
1 | Porsche Boxster | 84.2% | $59,550 | $56,149 | 5.7% | |
2 | BMW 6 Series Convertible | 79.8% | $91,375 | $89,075 | 2.5% | |
3 | Mercedes SL Roadster | 69.9% | $103,475 | $98,445 | 4.9% | |
4 | Land Rover LR2 | 67.0% | $41,500 | $39,308 | 5.3% | |
5 | Mitsubishi Eclipse Convertible | 66.5% | $28,774 | $25,353 | 11.9% | |
6 | Audi A5/S5 Cabriolet | 66.1% | $43,425 | $42,524 | 1.8% | |
7 | Volvo C70 Convertible | 65.3% | $44,425 | $42,130 | 5.2% | |
8 | Chevrolet Aveo Hatchback/Aveo5 | 65.1% | $12,875 | $10,946 | 15.0% | |
9 | Mercedes M-Class Hybrid | 64.0% | $56,685 | $54,675 | 3.5% | |
10 | Chevrolet Corvette | 63.8% | $49,995 | $45,017 | 10.0% | |
*Average paid is the estimated average transaction price of a vehicle after incentives. ** Percent Discount from MSRP is rounded to the nearest tenth | ||||||
TrueCar.com's Best Local Price tool, provides shoppers the Lowest Certified Price, a "no-haggle" upfront price from nearly 5,000 participating dealers.
For more information on the top brands and models for Baby Boomers buyers in 2009 and 2010, please visit blog.truecar.com.
TrueCar Inc. is an automotive solutions provider focused on changing how cars are sold by providing a significantly better customer experience while helping qualified dealer partners to gain incremental market share and reduce costs. TrueCar.com is a transparent, visual publisher of new car transaction data. TrueCar.com price reports help both dealers and consumers to agree on the parameters of a fair deal by providing an accurate, comprehensive and simple understanding of what others actually paid for the identically equipped new car over the last 30 days both locally and nationally. TrueCar, Inc. works with a national network of nearly 5,000 Certified Dealers that provide up-front, no-haggle, competitive pricing to assist some of the nation's largest and most well respected membership and service organizations to meet the auto buying needs of their members and customers. These partnerships include American Express, AAA, USAA and more than 60 others. Collectively these audiences represent over 1M in-market customers each month. TrueCar, Inc. is headquartered in Santa Monica, CA and has offices in San Francisco. The company was founded in 2005 and has been profitable since 2009. With nearly 200 percent year-over-year growth TrueCar has driven over 300,000 sales and is developing a suite of transaction oriented products and services centered on transparency and radical clarity as a result of comprehensively analyzing market data and information.
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About TrueCar Data
TrueCar obtains data directly from numerous sources including automotive dealers, technology companies, data aggregators, and analytics companies within the automotive space. We also acquire vehicle configuration data, customer and dealer incentives data, financing and loan data, vehicle registration and insurance data, and much, much more. TrueCar is insatiable about data with our goal to find 100% of all purchase transactions, even if that means finding the same transaction multiple times from multiple sources within the car-buying ecosystem. Our data is among the most timely and comprehensive in the industry, as we are able to process most car sales within a week of the actual sales date, and have a substantial fraction on the site within 48 hours of the actual sale. TrueCar believes the greater our informational accuracy, the greater benefit we provide to both dealers and consumers.
Disclaimer
This press release and the information contained herein is for noncommercial use on "as-is, as available" basis and may be used for informational purposes only. TrueCar makes no representations or warranties, express or implied, with respect to the information contained in this press release and the results of the use of such information, including but not limited to implied warranty of merchantability, fitness for a particular purpose and non-infringement. The information contained in this press release may include technical inaccuracies or typographical errors. Neither TrueCar nor any of its parents, subsidiaries, affiliates or respective partners, officers, or directors, employees or agents shall be held liable for any damages, whether direct, incidental, indirect, special or consequential, including without limitation lost revenues or lost profits, arising from or in connection with your use or reliance on the information presented in this press release.
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Jesse Toprak
https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=94534
SOURCE TrueCar.com
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