Experian Automotive: Vehicles in operation analysis shows consumers driving older-model vehicles at the highest percentage on record
Additionally, crossover utility vehicles become the top segment among new vehicle registrations for the first time in 10 years
PR Newswire
SCHAUMBURG, Ill., June 18, 2014
SCHAUMBURG, Ill. , June 18, 2014 /PRNewswire/ -- Experian Automotive today announced that the percentage of older vehicles on the road has reached its highest level since 2009. According to Experian Automotive's most recent Automotive Market Trends analysis, vehicles predating the 2001 model year made up more than 28.3 percent of all vehicles on the road during the first quarter of 2014, up from 22.1 percent six years earlier.
"Auto companies have been seeing the benefits from consumers coming back to market due to pent up demand following the recession. However, it's clear that more and more consumers continue to drive older-model vehicles," said Melinda Zabritski , Experian Automotive's senior director of automotive credit. "While the growth in early model vehicles on the road is slowing, getting the most out of the vehicle they purchase still appears to be top of mind for consumers."
During the first quarter of 2014, the top model year 2000 and older vehicle makes and models are the Ford F-150, Chevrolet Silverado 1500, Honda Accord, Toyota Camry, Ford Ranger and Honda Civic.
Additional data from the analysis shows that consumers were purchasing entry-level crossover utility vehicles (CUV) more than any other vehicle segment. During the first quarter of 2014, the entry-level CUV segment surpassed full-size pickup trucks as the top vehicle segment among new registrations. This marks the first time in 10 years that a CUV was the top registered vehicle segment (the only two segments to achieve this title in the last 10 years were full-size pickups and small economy cars).
From a make-and-model perspective, the top five CUVs registered during the quarter were the Ford Escape, Honda CR-V, Chevrolet Equinox, Toyota RAV4 and Nissan Rogue.
The top five new vehicle models registered across all segments in Q1 2014 were the Ford F-150, Toyota Camry, Nissan Altima, Chevrolet Silverado 1500 and the Honda Accord. Regionally, the F-150 was the top new vehicle model in the Western, Midwest and South regions, while the Honda CR-V was the top model in the Northeast region.
| | Western | Midwest | South | Northeast |
| 1. | Ford F-150 | Ford F-150 | Ford F-150 | Honda CR-V |
| 2. | Honda Accord | Ford Fusion | Toyota Camry | Honda Accord |
| 3. | Honda Civic | Ford Escape | Nissan Altima | Ford Escape |
| 4. | Toyota Corolla | Chevrolet Silverado 1500 | Chevrolet Silverado 1500 | Nissan Rogue |
| 5. | Toyota Camry | Chevrolet Equinox | Toyota Corolla | Honda Civic |
Other findings include:
- The total number of vehicles on the road remained unchanged (247.4 million) in Q1 2014 compared to the previous year
- Alternative-power vehicles made up nearly 1.3 percent of all vehicles on the road in Q1 2014
- On average, 6.5 percent of all vehicles between model years 2011 and 2014 have a turbocharged/supercharged engine, compared to 3.4 percent of all vehicles between model years 2000 and 2010
- In the first quarter of 2014, new vehicles accounted for 27 percent of all registrations, remaining flat from last year
- Imports made up more than 52 percent of all new vehicle registrations in Q1 2014, up from 51.8 percent the previous year
- In Q1 2014, the top five manufacturers for new registrations were General Motors, Ford, Toyota, Chrysler and Nissan
Complete findings from the Q1 2014 Automotive Market Trends analysis will be presented in a Webinar at 11 a.m. Pacific time / 1 p.m. Central time / 2 p.m. Eastern time on June 19 . If you would like to register for the event, visit http://bit.ly/1l5A9U4 .
About Experian Automotive
Experian Automotive provides information services and market intelligence that enables results-driven professionals to gain the fullest possible understanding of the market, the vehicles and the people who buy them. Its North American Vehicle Database(SM) houses data on nearly 700 million vehicles and, when combined with Experian's credit, consumer and business information, provides an integrated perspective into the automotive marketplace. Experian Automotive's AutoCheck ® vehicle history reports provide dealers and consumers with in-depth information, allowing them to confidently understand, compare and select the right vehicles. For more information on Experian Automotive and its suite of services, visit our Website at http://www.experian.com/automotive .
About Experian
Experian ® is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2014 , was US$4.8 billion . Experian employs approximately 16,000 people in 39 countries and has its corporate headquarters in Dublin, Ireland , with operational headquarters in Nottingham, UK ; California , US; and Sao Paulo, Brazil .
For more information, visit http://www.experianplc.com .
Experian and the Experian marks used herein are trademarks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.
Contact:
Roslyn Whitehurst
Experian Public Relations
1 714 830 5578
roslyn.whitehurst@experian.com
Twitter: @RozWhitehurst
SOURCE Experian Automotive
