- Thirty-seven percent of new-vehicle buyers say that fuel economy is a leading factor in their next purchase, according to Consumer Reports. At 17%, quality is now a distant second to fuel-economy. Based on this data, it suggests that consumers are open to purchase a vehicle with questionable quality, as long as the fuel-economy is exceptional.
- More consumers are paying their auto loans on time. According to TransUnion, one of the major credit reporting agencies, during the first quarter of 2012, the rate of U.S. auto loan payments at least 60 days late declined by about 27% from the same period in 2011. This is a sign that the economy is slowly recovering and more folks are going back to work.
- During the first quarter of 2012, the cost of buying and financing a new ride took 23.2 weeks of median family income to pay-off the vehicle. On average this was about $300 more than what consumers spent during the last quarter of 2011. While the cost is up, in comparison to previous quarters, this is still relatively affordable according to the Comerica Auto Affordability Index.
- Its been reported that the Chrysler Group sales have zoomed this year due to their willingness to work with subprime consumers with credit challenges.
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