SANTA MONICA, Calif., Aug. 26, 2020 (GLOBE NEWSWIRE) -- TrueCar, Inc., the most efficient and transparent online destination to find a car, revealed a new study commissioned by TrueCar and conducted by OnePoll about the way that cars are helping Americans cope during COVID-19 and the relationship Americans have with their vehicles.
Americans are turning to a surprising place to get a little alone time during the pandemic ‒ their cars.
A new study of 2,000 Americans who own or lease a vehicle found:
Americans form emotional connections to their vehicles:
Apparently, our cars are more to us than just a vehicle since two-thirds of Americans think of their vehicle as a friend and one in four confessed to shedding tears when it came time to part with their car.
The study commissioned by TrueCar and conducted by OnePoll discovered that the average lifespan of a vehicle is six years so there’s plenty of time for memorable moments.
Sadly, the good times can’t roll on forever as vehicles will inevitably develop problems. The average vehicle will go four years before it starts needing repairs and will get repaired three times.
“The pandemic has increased our appreciation for the freedom and solitude you can get from a personal vehicle, but vehicles already hosted some of our most memorable life moments,” said Wendy McMullin, Director of Research at TrueCar. “And it makes sense, we spend a lot of time with our vehicles – about seven years on average for a new car.”
Given the length of vehicle ownership, Americans won’t jump behind the driver’s seat of just anything. The average search for a new vehicle takes three months of research. The most common methods respondents use to find their new vehicle are online and through personal recommendations.
Now due to COVID-19 health concerns, consumers are doing more and more of the car buying process remotely. Recent TrueCar research showed that two-thirds of car buyers are more likely to engage with a dealer offering vehicle sanitization, digital paperwork and vehicle delivery.
When purchasing a vehicle, consumers will also have to consider what to do with their existing vehicle.
“Knowing the value of your existing vehicle will help you determine your budget for your next vehicle. It’s an important aspect of the research process that some consumers don’t consider until they’re at the dealership, and given our emotional attachment to our vehicles, we tend to overestimate their value” added McMullin. “You can use TrueCar to see how your vehicle’s unique features and condition impact its value, and you can apply that amount toward the purchase of the next vehicle in your life.”
TOP ACTIVITIES THAT MADE RESPONDENTS GRATEFUL FOR THEIR VEHICLES
|1. Leisurely drives||56%|
|2. Road trips||45%|
|3. Getting quiet time for myself||41%|
|4. Going for a day-trip||40%|
|5. Carrying supplies for a home improvement project||37%|
|6. Place for private/business calls||37%|
|7. Going camping||33%|
|8. Makeshift office||32%|
|9. To go somewhere I’ve never been before||30%|
|10. Going to a drive-in movie||28%|
|11. Going hiking||26%|
|12. To go off-roading||26%|
TrueCar is a leading automotive digital marketplace that enables car buyers to connect to our nationwide network of Certified Dealers. We are building the industry’s most personalized and efficient car buying experience as we seek to bring more of the purchasing process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings and market context on new and used cars – all with a clear view of what's a great deal. When they are ready, TrueCar will enable them to connect with a local Certified Dealer who shares in our belief that truth, transparency and fairness are the foundation of a great car buying experience. As part of our marketplace, TrueCar powers car-buying programs for over 250 leading brands, including AARP, Sam’s Club, and American Express. Nearly half of all new-car buyers engage with TrueCar powered sites, where they buy smarter and drive happier. TrueCar is headquartered in Santa Monica, California, with offices in Austin, Texas and Boston, Massachusetts.
TrueCar Public Relations Contacts:
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