More Americans say they will buy
a used car when it comes time to replace their current vehicle, according to a recent telephone survey conducted for CarMax,
Thirty percent of respondents
surveyed indicated that buying a used car is what they will do once their current car stops running. A greater percentage
of women chose this answer (34 percent) than men who were surveyed (26 percent). One in five (18 percent) respondents said
that they purchased a car in the past year despite the recession, while seven percent say that they are ready for a new car,
but will buy a used car to be smart.
following are the results of the recent telephone poll that asked adults: As the weather and the economy both show signs of
possible thawing, which of the following statements best describes your attitude toward shopping for your next car?
I'll wait until my car doesn't run anymore, then I'll buy
I bought a car this past year despite the recession
It's still too early, I'm nervous about spending that kind of
I am ready for a new car but I will buy used to be smart
I'm doing my research online to find the right car to purchase
I'm looking for something with fewer bells and whistles to keep
the cost low
The survey was conducted
by Ipsos Public Affairs on behalf of CarMax. The national, random sample consisted of more than 1,000 U.S. adults who were interviewed by
telephone during February 18 – February 22, 2010.
According to ADESA, in February used vehicle average wholesale prices reached their highest level in eight
months and passed the $10,000 mark for the first time since July 2009. This represents an 8.3% year-over-year
gain, and a 3% upswing compared to January.
Looking at individual segments, there were year-over-year increases across the board, with full-size vans (up 33%)
leading the way. Full-size SUVs (up 10.8%) and luxury cars (up 10.7%) also showed double-digit gains.
Overall, car segments climbed 6.2% from February 2009, and truck
segments grew 11%. On a month-over-month basis, only full-size cars (down 4.8%) saw their values fall.
Sporty cars (up 5.6% from January) led the rise, as car segments jumped 3.9% and trucks climbed 2.3%.
Source: CarMax, Inc., ADESA