Edmunds.com Sheds New Light on Car Shopping Trends and Behaviors
Santa Monica, Calif. — Car buyers spent an average of $30,803 on new-car purchases last year — an all-time high, according to Edmunds.com. The company also found that an average of $2,200 — or about 7 percent above base prices — was spent on optional equipment for those cars, according to Edmunds.com’s 2013 Car Shopping Trends Report.
“The trends we found offer direct clues to ways that the automotive industry can move toward a more engaging car-shopping experience,” said Edmunds.com President Seth Berkowitz. “In evaluating our wealth of data, we uncovered a story about car shoppers that is often surprising and counterintuitive, and at other times reinforces critical theories held throughout the industry.”
Other key findings in the 2013 Car Shopping Trends Report include:
• Two out of every three car shoppers consider themselves highly engaged in the car-shopping process. When they shop on Edmunds.com, they’re most interested in reviews, pricing information and photos.
• Shoppers are very good at anticipating how much they’ll pay for a new car. New-car shoppers told Edmunds.com in 2011 that they planned to spend an average of $30,500 for their next vehicle, which closely mirrors the $30,803 they actually spent in 2012.
• Shoppers are turning to leases now more than ever. And the difference between the average monthly lease payment ($433) and the average monthly finance payment ($468) is greater than at any time since Edmunds.com started keeping records.
• Luxury car owners and shoppers are considering and buying more non-luxury cars. This trend speaks to the improved quality of non-luxury vehicles.
• About 44 percent of all trade-in vehicles last year were applied to the purchase of a new car of the same brand. This is consistent with our 2011 survey that found 49 percent of shoppers say they “plan to stick with a brand that has worked in the past.”
• Traffic to Edmunds.com’s mobile site spikes on the weekends – especially on Saturdays — when the bulk of car buying takes place.
More Industry

Pennsylvania Dealership Under New Retailers
The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.
Read More →
Battery Storage Takes Priority Over EVs
U.S. automakers are prioritizing battery energy stationary storage over electric-vehicle production as the consumer demand for EVs lags the rest of the world.
Read More →
Auto Dealers Feel Better But Not Great
A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.
Read More →
New-Vehicle Sales Picture Relative
A May forecast is complicated by last spring’s trade tariff effects on auto retail. Despite continued hard realities, many consumers took advantage of ways to bite the bullet.
Read More →
Auto Group Acquires Third Nissan Rooftop
Iowa-based Coleman Automotive Group recently acquired its seventh dealership, McGrath Nissan, which it renamed Nissan of Elgin.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Building an Extraordinary F&I Agency
Work to determine your specialized talent, because that fact will determine everything about your agency’s future.
Read More →
Recipe for Compliance
The secret to both amazing barbecue and compliance is the same: understanding the basics and committing to a process.
Read More →
EVs Getting More Attractive
A growing percentage of U.S. consumers are open to switching and fewer are adverse to the idea, according to a recently completed survey. That’s despite the end of a tax break.
Read More →
EV Sales Drop in April Following Surge
North American electric-vehicle sales were down 28% year-over-year, a sharp contrast from global EV sales growth of 6%.
Read More →