Older shoppers more likely to buy new cars

A new University of Michigan study reveals that people between the ages of 55 and 64 are most likely to be purchasing a new vehicle – one new car was sold for every 14.6 licensed drivers in that age bracket – suggesting that automakers should be targeting that demographic when trying to move cars from the showroom. The report, comparing licensed driver data in the US from 2007 to 2011, also revealed that drivers between the ages of 18 and 24 were the least likely to buy a new vehicle, as just one new car was sold for every 221.8 licensed drivers in that segment.

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