eBay Motors Reveals the Factors Behind America’s Aging Car Force
April 14 2016 - 1:00PM
Business Wire
Survey finds older cars are part of the
family and owners are willing to invest in maintenance to keep them
running
eBay Motors (www.eBay.com/Motors) today announced the results of
its America’s Aging Car Force survey.1 The findings show that
Americans who own a vehicle that is more than five years old are
emotionally attached to their cars and trucks. Additionally, the
majority of aging vehicle Do-It-Yourselfers (DIYers) are purchasing
parts and accessories online.
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eBay Motors Reveals the Factors Behind
America's Aging Car Force (www.eBay.com/Motors) (Graphic: Business
Wire)
“Various studies have shown that people are holding on to their
cars and trucks longer than before, and what we’re seeing is a
result of a personal attachment to their vehicles,” said Jay
Hanson, eBay’s Vice President of Merchandising of Hard Goods.
“Consumers with vehicles that are five years old or older consider
their car or truck reliable and in order to maintain this, are
increasingly turning to online sources to purchase parts and
accessories that will keep their vehicles in top condition.”
Hi, Betsy: Vehicle Owners Are on a First-Name Basis with
Their Aging Cars and Trucks
Today’s aging vehicle owners are personally invested in their
cars, especially among Millennials,2 who show the strongest
emotional attachment to their vehicles compared to other
generations. Further, one in four owners of older vehicles actually
go so far as to name their cars.
In fact, the most popular names among all vehicle owners,
include:
- Betsy
- Ol’ Faithful/Ol’ Reliable
- Baby
- Bessie
- Bob
- Buddy
Car colors are also a popular name, with Red, Silver and Blue
also topping the list. Additionally:
- Nearly a third (32 percent) of female
respondents name their car
- Nearly 40 percent of Millennials name
their car
- Millennials who drive Fords are most
likely to name their cars Betsy or Red
And the Brand Winners of the Popularity Contest are…Toyota
and Honda Among Aging Vehicle Owners
- Toyota Corollas and Honda Accords are
the most popular aging car choices among all Millennials
- Additionally, the most reliable brand
of vehicles are the Honda Accord and Toyota Corolla, according to
all respondents who selected “my vehicle is very reliable”
What Are People Spending Their Tax Refunds On? Parts and
Accessories
With new fitment capabilities, purchase protection plans and
general convenience, more and more consumers purchase parts and
accessories (P&A) online. In fact, on eBay, three P&As are
sold every one second.
P&A is also the top priority for aging vehicle owners who
plan to spend money, specifically tax refunds, on auto related
items.
- 50 percent of males expect to spend
their tax refund on auto parts and accessories, while more than
half (51 percent) of Millennials expect to do so
Furthermore, these P&A purchase methods continue to
evolve:
- More than half of aging vehicle DIYers
purchase parts and accessories online
- More than one-fourth of respondents are
exclusively purchasing P&As online
eBay Motors is committed to being the leading vehicle, parts and
accessories destination, where shoppers can discover and purchase
virtually any vehicle they want or parts that they need to modify,
repair, and personalize their rides.
About eBay Motors
eBay Motors (www.ebay.com/motors), a part of eBay (Nasdaq:EBAY),
one of the world’s largest marketplaces for buying and selling all
things automotive. The site offers everyday cars for everyday
drivers, as well as collector cars, motorcycles, auto parts and
accessories. eBay Motors is consistently ranked the No. 1
automotive site on the Web by Nielsen//NetRatings.
1 The survey conducted in February 2016, collected responses
from more than 1,000 U.S. vehicle owners – 50 percent male
responses and 50 percent female responses – to determine factors
that drive Americans to keep their vehicles longer and the current
condition of those aging vehicles.
2 Millennials: Ages 18-34 year old
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eBayKari Ramirezpress@ebay.comorAirfoil, on behalf of
eBayebaymotorsprteam@airfoilgroup.com
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