Top Trends in the Automotive Industry for 2013 – Part 1 in series of 4
Trend #1 - People are holding their cars longer As the United States slowly recovers from a recession, consumers are still tight on their budgets and conserving the number of luxury goods they purchase including new cars and other vehicles.
According to the automotive industry research firm R.L. Polk & Co., consumers are holding their cars, on average, for 63.9 months, which is up 4.5 months from the previous year.
Additionally, the quality of cars has increased leading people to hold their cars for longer periods of time without the need to purchase new ones. While this can lead to reduced car sales, it can increase the need for repair and maintenance as people choose to keep their older cars.
Keeping a regular maintenance schedule and aligning with a trusted mechanic is critical to ensure the maximum life of your vehicle at the minimum of cost.