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With the average vehicle age on American roads approaching 12 years, it seems that many drivers are holding on to their old reliable cars, trucks and SUVs for the longer haul. Even with newer vehicles being equipped with the latest technology and dealerships offering greater incentives, many drivers prefer to stick with their older models. Here are some more trends to look out for in the automotive business.
Starting in 2020, the Department of Transportation is proposing rules requiring that all new cars on the road must be able to “talk” to one another digitally to help prevent accidents by distracted drivers.
New vehicles were purchased in the U.S. in 2016.
The average incentive in 2016. Compared to $2,912 in 2015, according toe Kelley Blue Book. An increase of 14.7%.
Of the new car market is made up of millenials, according to J.D. Power survey.
Hybrid and plug-in vehicles sold in 2016. According to Kelley Blue Book, that is a 25.2% decline from the year before.
Source – https://www.washingtonpost.com/news/innovations/wp/2017/01/14/seven-ways-car-buying-could-soon-be-very-different/?utm_term=.a74a1623ef54