Topic: luxury

Navigate sneak peek: Luxury buyers are 2.6x more likely to be buying their first vehicle ever

Posted by Madison Gross on September 27, 2019

Our Director of Consumer Insights, Madison Gross, provides a sneak peek into her research on today’s car-buying audience, which she’ll be sharing in-depth at Navigate in October.

Luxury vehicle sales have been consistently posting strong growth, and it turns out much of that growth may be attributed to first-time buyers, according to findings from the 2019 CarGurus Buyer Insights Report. About three in ten luxury car buyers said that before their most recent purchase, they had never bought a car.

Remember the headlines a few years back that Millennials were delaying buying a car? It seems that now that they’re ready to buy, they don’t want just any car, but rather an aspirational one. Our research found that first-time buyers in luxury are, on average, 29 years old. Additionally, among first-time buyers in luxury:

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Topics: CarGurus events, data, industry insights, luxury, Navigate, trends