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New Cars - US - September 2015

The new car market is booming, fueled by pent-up demand as the economy continues its post-recession growth. The constant addition of new tech, safety, and convenience features are an additional market driver beckoning consumers into new cars. Leasing, too, has grown, as buyers look to get into new cars more often while paying less. Finally, more liberal lending is allowing cash-strapped buyers to get into the market, but there could be consequences down the road.

This report looks at the following areas:

  • The new car market is booming, but will the boom last?
  • Is there a bubble about to burst?
  • Sales are going to stay strong, so the time to strike is now
  • Finding prime customers is key

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Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • The issues
          • The new car market is booming, but will the boom last?
            • Figure 1: Total US sales and fan chart forecast of market, at current prices, 2010-20
          • Is there a bubble about to burst?
            • The opportunities
              • Sales are going to stay strong, so the time to strike is now
                • Figure 2: Average age of passenger cars and light trucks, 2002-13
              • Finding prime customers is key
                • What it means
                • The Market – What You Need to Know

                  • New car sales are on the up, up, and up
                    • Aging fleet, pent-up demand, and economic growth are bigger drivers
                      • Could there be trouble ahead?
                      • Market Size and Forecast

                        • New car market growth isn’t over yet
                          • Figure 3: Total US sales and fan chart forecast of market, at current prices, 2010-20
                          • Figure 4: Total US sales and forecast of market, at current prices, 2010-20
                      • Market Breakdown

                        • Compact-crossover growth is hot
                          • Figure 5: Total US sales and fan chart forecast of light truck market, at current prices, 2010-20
                      • Market Factors

                        • Americans are more willing to spend
                          • Figure 6: Real gross domestic product and related measures: percent change from preceding period
                        • Dropping fuel prices drive the market
                          • Figure 7: Weekly U.S. fuel prices, June 1, 2015-Aug. 31, 2015
                      • Key Players – What You Need to Know

                        • The Detroit Three is powered by trucks
                          • Crossovers are the new “it” vehicle
                            • Large cars aren’t living large
                            • Manufacturer Sales of New Cars

                              • GM, Ford, Toyota are strong
                                • Figure 8: U.S. market light vehicle deliveries, June 2015
                            • What’s Working?

                              • Trucks, crossovers buoy automakers
                              • What’s Struggling?

                                • Large cars take a big hit
                                • What’s Next?

                                  • Crossover segment shows no sign of slowing down
                                  • The Consumer – What You Need to Know

                                    • Today’s consumer has money on the mind
                                      • Buying trumps leasing, as consumers want to make it theirs
                                        • Smartphones, safety rule the tech roost
                                        • Factors Influencing New Car Purchase Decisions

                                          • Consumers thinking about the future when looking at new cars
                                            • Attitudes toward debt influence the new car market
                                              • Figure 9: Factors influencing vehicle purchase, May 2015
                                            • Gen Xers looking for reliability, affordability
                                              • Blacks want lower payments, Whites want longer warranties
                                                • Figure 10: Factors influencing vehicle purchase, by demographics, May 2015
                                            • Brand Perception

                                              • Ford, Toyota are preferred brands
                                                • Figure 11: Car brand, May 2015
                                            • Buying versus Leasing

                                              • Are buyers buying, or leasing?
                                                • Figure 12: Plans to buy or lease, May 2015
                                            • Interest in Tech

                                              • What tech features are buyers pursuing?
                                                  • Figure 13: Interest in new car technology, May 2015
                                                • Parents more into info tech than safety tech
                                                  • Figure 14: Interest in new car technology, by demographics, May 2015
                                                • Hispanics, Blacks more interested in infotainment, Wi-Fi
                                                  • Figure 15: Interest in new car technology, by demographics, May 2015
                                              • Appendix – Data Sources and Abbreviations

                                                • Data sources
                                                  • Sales data
                                                    • Fan chart forecast
                                                      • Consumer survey data
                                                        • Terms
                                                        • Appendix – Consumers Table

                                                            • Figure 16: Reasons for leasing, May 2015

                                                        Companies Covered

                                                        To learn more about the companies covered in this report please contact us.

                                                        New Cars - US - September 2015

                                                        US $3,995.00 (Excl.Tax)