logo
  Join        Login             Stock Quote

Edmunds.com Report Sheds New Light on Car Shopping Trends and Behaviors

Thursday, June 13, 2013 3:46 PM


Edmunds.com Report Sheds New Light on Car Shopping Trends and Behaviors

SANTA MONICA, Calif., June 13, 2013 /PRNewswire/ -- Car buyers spent an average of $30,803 on new car purchases last year – an all-time high, according to Edmunds.com, the premier resource for car shopping and automotive information. Edmunds.com also found that an average of $2,200 – or about 7 percent above base prices – was spent on optional equipment for those cars. The findings are just two of several key points identified in Edmunds.com's 2013 Car Shopping Trends Report, which mines Edmunds.com's extensive data to reveal the most relevant car shopping and purchasing trends in America today.

(Logo: http://photos.prnewswire.com/prnh/20130612/MM31390LOGO)

"The trends we found offer direct clues to ways that the automotive industry can move toward a more engaging car shopping experience," says Edmunds.com President Seth Berkowitz. "In evaluating our wealth of data, we uncovered a story about car shoppers that is often surprising and counterintuitive, and at other times, reinforces critical theories held throughout the industry."

Other key findings in the 2013 Car Shopping Trends Report include:

  • Two out of every three car shoppers consider themselves highly engaged in the car shopping process, and when they shop on Edmunds.com, they're most interested in reviews, pricing information and photos.
  • Shoppers are very good at anticipating how much they'll pay for a new car. New car shoppers told us in 2011 that they planned to spend an average of $30,500 for their next vehicle, which closely mirrors the $30,803 they actually spent in 2012.
  • Shoppers are turning to leases now more than ever. And the difference between the average monthly lease payment ($433) and the average monthly finance payment ($468) is greater than at any time since Edmunds.com started keeping records.
  • Luxury car owners and shoppers are considering and buying more non-luxury cars. This trend speaks to the improved quality of non-luxury vehicles.
  • About 44 percent of all trade-in vehicles last year were applied to the purchase of a new car of the same brand. This is consistent with our 2011 survey that found that 49 percent of shoppers say they "plan to stick with a brand that has worked in the past."
  • Traffic to Edmunds.com's mobile site spikes on the weekends – and especially on Saturdays – when the bulk of car buying takes place.

Edmunds.com's 2013 Car Shopping Trends Report is available for free download any time at http://www.edmunds.com/industry-center/car-shopping-trends/.

About Edmunds.com, Inc.
Edmunds.com is a car-shopping Web site committed to helping people find the car that meets their every need. Almost 18 million visitors use our research, shopping and buying tools every month to make an easy and informed decision on their next new or used car. Whether you're at the dealership or on the go, we're always by your side with our acclaimed Edmunds.com  iPhone and iPad apps and our Edmunds.com Android App. Our comprehensive car reviews, shopping tips, photos, videos and feature stories offer a friendly and authentic approach to the automotive world. We're based in Santa Monica, Calif., but you can connect with us from anywhere by following @Edmunds on Twitter or by becoming a fan of Edmunds.com on Facebook.

Contact:
Jeannine Fallon/Aaron Lewis/Stephanie Mar
Edmunds.com Corporate Communications
www.Edmunds.com
Media Hotline: 310-309-4900
pr@edmunds.com

SOURCE Edmunds.com

(Source: PR Newswire )
(Source: Quotemedia)

Advertisement
Advertisement



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.