Tuesday, July 3, 2012 | Edited by Daniel Moores
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Study Shows an Increase in Planned Purchases of New Vehicles

For the first time in six years, planned purchases of new vehicles has risen, according to a soon-to-be released National Report from The Media Audit.

According to the 81-market study, 5.5% of U.S. consumers plan to purchase a new car, van, truck or SUV in the next 12 months. The figure represents more than 8.1 million consumers across The Media Audit's measured markets.

The figure also represents a modest increase of 1.8% over the previous year, when 5.4% of U.S. consumers planned a new vehicle purchase. Previously, the figure had been in decline for five straight years, down from a high of 8% in 2005.

Planned purchases of automobiles, regardless of new or used, is also up. According to the same survey, 14.6% of U.S. consumers plan to buy a new or used vehicle in the next 12 months, compared to 14.3% for the previous year. The figure also represents the first time in six years that the figure has risen instead of fallen. The figure had been in decline for five straight years, down from a high of 18.3% in 2005.

Among those U.S. cities with the highest percentage of new car buyers is Sarasota-Brandenton, Florida, where 9% of the metro area's population plans to purchase a new vehicle in the next 12 months, followed by Miami-Ft. Lauderdale, Florida (8.6%), Detroit, Michigan (8.2%), Cleveland, Ohio (7.7%), and Boston, Massachusetts (7.2%).

Among those U.S. cities with the highest percentage of consumers planning the purchase of a domestic vehicle is Detroit, Michigan, where 15.5% plan to purchase a new or used domestic vehicle, followed by Tulsa, Oklahoma (13.5%), Toledo, Ohio (12.2%), Tyler-Longview, Texas (11.9%) and Albuquerque, New Mexico (11.2%).

The survey also revealed that among those consumers planning the purchase of a new vehicle, 43.5% plan to buy a domestic vehicle, 39.3% plan to purchase a foreign vehicle, while the remaining consumers are unsure.

More than 104,000 respondents were surveyed.

(Source: The Media Audit, 06/27/12)

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