Highlights of a new CIRANO report on the analysis of light truck purchase motivations in Quebec were presented at 2 events.
Here are some highlights of the report:
- SUVs are the most common vehicles (47% of respondents in our sample), with the highest level of appreciation and the most likely to be purchased as the next vehicle (46% extremely or very likely that the next purchase will be an SUV - 37% for a sedan).
- 54% of respondents believe that price is a major factor when purchasing a vehicle. Yet 46% use dealer financing.
- Although respondents generally consider their vehicle to be indispensable, they do not use it to its fullest capacity, either in terms of vehicle seating or storage space.
- The significant tendency of SUV drivers to want to buy back a similar vehicle underscores the importance of interventions aimed at first-time buyers, particularly to better assess their true usage needs.