U.S. drivers continue to hold onto cars for increasingly longer periods. A new Polk study finds consumers keep their cars almost 6 years, up by 4.7 months from about a year ago.
This is the longest period of ownership since Polk began its study in 2001.
Used car owners are also keeping their cars longer, or just over 6 years; also a record to date.
Polk also found that the average age of light vehicles on the road reached a record high of almost 11 years in 2011.
Source: Automotive News
Photo via Junky Car Club
I’m not sure that Barry and John have it 100% correct. Trust by consumers, I believe, is a small but important issue. I’m sure that the majority of independent and most big box retailers treat their customers with respect and try to address “valid” issues/concerns in the most logical way. I have been a business owner in the consumer electronics industry for over 15 years. I find that the majority of issues that our customers raise come from some sort of user error, abuse or neglect. While there are some issues with product, each business owner should be able to quickly weed out inferior product and continue on supplying quality products. The same for installation, bad installer, get rid of quickly and re-gain customer confidence. I also believe that since the late 1990s we have seen a race to the bottom, where consumers only purchase the cheapest products ( then complain to no end when it fails ) and continually drive quality manufacturers out of the market. Take a look around, a lot heavy hitters that were in Mobile Electronics are struggling, sold off divisions, or have gotten out of the industry altogether. And one last point we should consider is that individuals don’t spend money replacing their stereos when they’re struggling to put food on the table and keep a roof over their heads. Poor economic climate = less disposable income. We should not be surprised that poorer individuals keep vehicles longer and don’t dump money on in-car entertainment.
I agree with Barry. This is a result of shops that blow people off instead of addressing their issues. In the 38 years I have been business we have always tried to treat people the way we would like to be treated.Reasonable people respect that treatment and return car after car.There is no greater feeling than having a young person come in our shop and say “My dad said to come hear and do what you say. You put stereos in for him when he was young and they always worked great”.
Can anyone explain that if people are holding onto their cars longer, why we are note selling more car audio and infotainment products? I can, but nobody seems willing to address it in a meaningful way; CONSUMERS DO NOT TRUST US WITH THEIR CARS!