May 25, 2016—A recent survey from AutoMD.com revealed that nearly three-fourths of vehicle owners say the cost of replacement parts would influence their purchase decision, and 45 percent of people said they would be purchasing a car between 2 and 10 years old.
The study, which looked into the major factors consumers take into consideration when buying a new or used vehicle, was conducted among more than 1,000 vehicle owners, 59 percent of whom said they would be purchasing a vehicle within the next six months.
Top primary factors for a purchase decision were price and longevity of the vehicle. Nearly half of those surveyed said they would be purchasing a vehicle of the same brand they currently own, and 11 percent said they would consider a hybrid or electric vehicle.
"At AutoMD.com, we have been reporting for years on the lengthening vehicle ownership cycle. This survey indicates how that extended vehicle lifecycle is impacting consumer vehicle purchase decisions," said Tracey Virtue, vice president of AutoMD.com. "Clearly many consumers embrace the notion of a pre-owned vehicle as a viable primary vehicle, and are looking to keep them running for the long term."
