March 28, 2006
J.D. Power and Associates profiles Canadian new-vehicle customers
Toronto, Ontario – The typical Canadian new-vehicle buyer in February 2006 was 45 years old, reports J.D. Power and Associates’ Power Information Network (PIN), with almost half between the ages of 36 and 55, and the rest almost equally split between groups above and below this age bracket.
Among buyers, 26.8 per cent were between 16 and 35; 49.8 per cent between 36 and 55; and 23.4 per cent were over 56 years of age.
Close to 39 per cent of buyers were female (not including male buyers whose purchase decision was influenced by a female). One out of every six new-vehicle buyers purchased a service contract. Almost 40 per cent of trade-ins were from the same nameplate as the new vehicle purchased; half of all new-vehicle transactions in February were leases, with the remaining purchases split evenly between cash (including loans arranged by consumers outside the dealership) and finance.