Rise in new car sales reflects consumer confidence in cars”
A survey of more than 1,400 US car b더킹카지노uyers found a clear connection between consumer confidence in automobiles and a rise in the number of new car sales. Consumers also showed an increased willingness to pay higher prices for vehicles under their care, regardless of how much they paid for the car, the report stated.
In all, according to the report, more tha우리카지노n a half of all new car sales over the past five years were to those cars purchased by young women and girls, the youngest age in the group.
“This has become a trend,” said Mark A. Shuster, a principal analyst at CarMax. “We were never as concerned about being able to spend more on a car, but we are now worried about our ability to afford them.
“What’s going on in America is that the older the consumer, the more he or she is going to be concerned with spending to have what they want,” he said. “These changes will only have an impact if the young and the old are concerned about their financial security. There is an expectation that, as [the government] grows more and more powerful, these people have to buy a little bit more and the car becomes more affordable because the new car comes with a warranty.”
The rise in new car sales in the US is linked to a decrease in the unemployment rate, Shuster said. The increase in consumer confidence from consumer-driven sales was most robust among Millennials, the study found.
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While consumer confidence levels are rising, Shuster said, they could also be rising faster than the average. In 2016, about a quarter of all Americans ages 18 to 29 said they believed their financial situation would remain the same over time, which is well above the share in 2007, according to the CarMax report.
“The fact of the matter is you could be one of those 25-year-olds, and the first thing you’ll hear is, ‘My job is on the line today,” he said. “The truth is, you need a new job on the other side of the pond. You need a job that pays enough to make ends meet. You need a mortgage, if you can afford it, but they won’t let you down if they’re taking advantage of you.”
To help offset the increase in the price of a vehicle as older Americans age, the Consumer Reports surve