How well do car commercial casting specs reflect the real world of car buyers? Not very well, according to a recent analysis performed by researchers at AARP Media Sales.
Using data supplied by J. D. Power and Associates, AARP found that nearly 39 percent of new cars were sold to people between the ages of 50 and 64. Add in those over age 65, and the number rises to over 62 percent -- more than 3 out of every 5 cars sold in 2010. And we’re not talking geezer-styled gas guzzlers, either. 73 percent of all battery-assisted vehicles, or hybrids, were purchased by the over-50 crowd. In contrast, those 35 and under accounted for less than 13 percent of new car purchases. Some of this is demographic-driven, as that large cohort of Baby Boomers grows older; some due to the recession’s impact on younger pocketbooks. As further evidence of the purchasing power of both Boomers and those 65+, the study found that 33 percent of adults over 50 pay cash for their cars, compared to 13 percent of consumers under 50.
Does this offer opportunities for car manufacturers – and car dealers? Definitely. At Gen-Sights, we think that cars that are easier to enter and exit – and offer improved sightlines will benefit, as long as style hasn’t been sacrificed. We also think that dealers could set themselves apart by offering seminars or driving clinics on how to use the next-generation, computer-assisted technology that’s beginning to appear in their showrooms. One thing’s for certain: new cars purchases by older Americans are only going to increase, as more than 78 million Baby Boomers move to age 65 and beyond.
Source: Brand Week and AutoBlog
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