The economic downturn hit everyone hard, the car industry was not recession-proof. The subject has been talked about at length, mainly due to the turn around that has been happening lately with the resurgence of sales after the bailout. During those terrible times, Edmunds estimates that about 11 million vehicle sales were lost. The times may have gotten better, but of that 11 million that delayed their purchase, 4 million still haven’t gotten to buying a car.
Autonetfinancial.com shows that the age group that is leading to a sales slump is the younger buyers. New car purchases by 18-34 year-old has gone down by 30 percent in the last five years. A prediction for this is that this age group is out of the market because they are moving to bigger cities where having a car is usually a determent.
It’s been a tough question that many in the industry have pondered, how do you get the youngest buyers into the dealerships? It’s not like there isn’t already enough of financial problems that the new generation have to deal with, with unemployment still high and college tuition still increasing. That doesn’t even bring up the fact that new buyers are usually having credit problems from lack of experience.
If you’re one of the people that I just described, but need yourself a car, we here at Bayside Chrysler Jeep Dodge aim to help you. Have bad credit? Read our previous article for advice. Come on into the dealership and we’ll give you a hand in getting the car you want. Like our Facebook page and follow us on Twitter for more tips for the prospective car-buyer.
