SANTA MONICA, Calif., June 11 /PRNewswire/ -- TrueCar.com, the authoritative voice in new car price and industry trend information, has released its second in a series of automotive industry demographic studies, this time turning its data lens on gender differences in auto registrations.
TrueCar's study was based on over 13 million actual vehicle registrations, covering the last two years. Additionally, TrueCar.com was able to identify current discount percentages for each of these makes and models.
In looking at the gender of the name on the registration alone, and not driver or decision maker, the data shows that more men than women – at a rate of 64% to 36% – register vehicles in the U.S., even though females make up 51% of the U.S. population, according to the U.S. Census Bureau.
"We were surprised to see that there is still a sizable gender gap when it comes to vehicle registrations," said Jesse Toprak, Vice President of Industry Trends and Insights. "Of the more than 200 models we examined, only nine were registered by more woman than men and none of the brands had a registration rate that was higher for women."
Some of the key findings of the TrueCar.com study include:
- The brand with the highest percentage of female registrations was Kia (45.8%), followed by Suzuki (44.2%) and Mini (43.9%). There were 10 total makes with female ratio of over 42%, including Subaru, Hyundai and Volvo, which are all brands known for safety and/or value.
- The highest percentage of male registrations included primarily exotics and truck heavy brands. There were six brands at 10% or less for female registration, including Bugatti (0%), Ferrari (5.6%), Lamborghini (6.5%), Tesla (9.8%), Aston Martin (9.9%) and Lotus (10%). Representing the low end of female registered brands were several makes best known for trucks, including GMC, Dodge and Hummer.
- Models that had a better than 50% female registration rate were: Volkswagen New Beetle, Nissan Rogue, Hyundai Tucson, Volkswagen EOS, Volvo S40 Sedan, Honda CR-V, Kia Sportage, Toyota Rav4 and Nissan Sentra.
TrueCar also examined the most current market prices and listed discounts for all of the brands and specific models that were tracked. Below are the Top 10 brands with highest female registration ratios and their current discount percentages:
% of Female Registration
% Discount off MSRP
Below are the nine models that had topped the 50% or more female registration ratio and their current market discounts:
% of Female Registration
% Discount off MSRP
This piece of demographic data is only a small snapshot of the full range of data TrueCar.com will be reporting on in the coming months, with hopes of giving consumers and the manufacturers a better idea of what their purchasing trends look like. Results of this study and others, as well as the TrueTrends™ by TrueCar Report and other valuable data and information, can be found at www.truecar.com.
TrueCar is the authority in new car prices. We show car buyers and car dealers how much people actually paid for a particular car in a specific local area. With TrueCar pricing, both new car buyers and new car dealers can know at any time what is considered a good or great price on a new car. Consumers no longer need to walk into a dealership partially informed and fully suspicious – using TrueCar they walk in knowing the price of a fair deal. Dealers benefit by TrueCar's real-time, unbiased information about marketplace pricing, helping them price cars for increased sales, and ultimately gaining market share over other dealers. Our innovative new car pricing service is offered free of charge on our website at www.truecar.com, on our mobile site at mobile.truecar.com, and via syndication of our tools and pricing data to leading automotive research sites throughout the web.
About TrueCar Data
TrueCar obtains data directly from car dealers, respected dealer management system (DMS) providers, and well-known data aggregators 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.