SURVEY FORECASTS SOLID CAR SALES
By Adnews Staff
A recent survey of automobile owners revealed up to six in 10 Canadians plan to buy a vehicle in the next three years. Even better news for automotive manufacturers is that 49% of those planning to buy said they would look for a new car, while 41% said they would buy used. Canadians planning to buy a car within the next year share a number of traits, according to the survey. They tend to earn more than $50,000 per year, are younger males and currently drive a pre-owned car. The average maximum price drivers are willing to pay is $24,397 for a new vehicle and $12,558 for a used model. The survey also revealed that people prefer a face-to-face meeting when negotiating a car loan or lease. Only 5% of survey respondents said they were willing to use a phone, computer, the Internet or an automatic banking machine to arrange the financing for their automobile.