Sedans and SUVs challenge sports cars for midlife purchase of choice,
new CarMax survey reveals
RICHMOND, Va.--(BUSINESS WIRE)--
For many, the words “midlife crisis car” immediately bring to mind
“flashy, red and sporty.” CarMax,
Inc. (NYSE: KMX) today published a survey on midlife crisis car
trends, and the results may be surprising: sedans and SUVs are gaining
in popularity. While one in five potential buyers (20 percent) would
still go for a sports car first, 17 percent would purchase an SUV and 15
percent would pick a sedan. When asked about a specific make and model,
the Ford Mustang and Chevrolet Corvette were the favorites.
Perceptions of “Middle Age” Get a Makeover
This survey comes at a time when the concept of “midlife” and middle age
are evolving in America. Increasingly, this life stage represents an
exciting new chapter of possibility and freedom. According to the recent
CarMax survey, one in four American adults (25 percent) consider it
likely they would buy a car associated with a midlife crisis.
“It’s wonderful that people envision marking this new stage of their
lives by buying the type of vehicle they’ve always wanted,” said Cliff
Wood, CarMax executive vice president of stores. “No matter your dream
car, CarMax is the perfect place to start your car buying experience. We
offer a wide range of makes and models to match the next adventure
anyone has in mind.”
Red Isn’t the Only Show-Stopper
No matter what 80s movies told us, today’s midlife crisis car doesn’t
have to be red. The most popular color for respondents’ hypothetical
midlife crisis car was black (20 percent), with silver/gray (19
percent), blue (17 percent) and, yes, red (17 percent) close behind.
Yellow came in at the very bottom of the list with just 2 percent.
Sports Car for Him, SUV for Her
Thirty percent of men said that they would be very or somewhat likely to
buy a car associated with a midlife crisis, while 21 percent of women
said the same. But the type of car each gender would buy could not be
more different. For men, sports cars still reign supreme, and black is
the color of choice, both coming in at 24 percent. Women went with SUVs
(19 percent), and red won out as the preferred color (21 percent).
The South Most Likely To Buy Midlife Car
According to the survey, residents of the South are most likely to
purchase a midlife crisis car, with more than 30 percent of respondents
indicating that they were very or somewhat likely to buy one.
Midwesterners were the least likely to spring for a midlife crisis car
overall, with almost 80 percent of respondents saying that they were not
very likely or not at all likely to buy one. Of the 18 percent of
Midwesterners who would purchase a midlife crisis car, the most popular
make was an SUV – the only region where the sports car did not come out
on top.
The Ipsos survey was conducted on behalf of CarMax from October 20 to
October 21, 2014. For the survey, a national sample of 1,005 adults from
Ipsos’ U.S. online panel was interviewed online. For the corresponding
infographic, please click
here. For the full survey results, email pr@carmax.com.
About CarMax
CarMax, a member of the FORTUNE 500 and the S&P 500, and one of the
FORTUNE “100 Best Companies to Work For” for 10 consecutive years, is
the nation’s largest retailer of used vehicles. Headquartered in
Richmond, Virginia, CarMax currently operates 143 superstores in 72
markets. The CarMax consumer offer features low, no-haggle prices, a
broad selection of CarMax Quality Certified used vehicles and superior
customer service. During the 12 months ending February 28, 2014, the
company retailed 526,929 used cars and sold 342,576 wholesale vehicles
at our in-store auctions. For more information, access the CarMax
website at www.carmax.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20150203006396/en/
Source: CarMax, Inc.