Current Issue

PREMIUM CONTENT FOR SUBSCRIBERS ONLY

Service Suppliers

59% plan to keep their cars for four years

Order Reprints

Fifty-nine percent of car and pickup truck/SUV owners plan to keep their vehicles for four or more years, according to a recent survey conducted by automotive research consulting firm AutoPacific.

That number is up from 46% some four years ago, according to the firm.

"The public is wary about the current condition of the American automobile industry and the U.S. economy as a whole," say AutoPacific officials.

"People who previously bought a new car every one or two years have significantly scaled back their purchasing and those who before bought every three to four years are now waiting at least an additional year," says George Peterson, AutoPacific's president.

"We will not be seeing the frequent replacement pattern brought about by strong incentives and financing programs that made it easy and financially reasonable over the last decade for consumers to get into a new car frequently."

Related Articles

Plan for the Unexpected: Are You Ready for the Next Crisis?

Association to honor 'four for the future'

Clark Tire: loyal to Goodyear for 70 years

You must login or register in order to post a comment.