Buying a car is no small act. People will often purchase a car that equals their annual income and they often take weeks in determining which car to purchase. How men and women approach purchasing a car differs greatly. Below are interesting facts on how men and women go about purchasing a vehicle:
- Women buy more cars than men. According to Edmunds, 62% of all cars are purchased by women.
- Women take considerably longer to purchase a vehicle than men. Typically, men take about 60 days and women take 75 days to make the purchase.
- Men tend to be more image conscious while women tend to be more utility minded.
- There are currently 1.4 million more women than men who own driver’s licenses.
- 58% of men feel confident about buying a car. Only 38% of women are confident when purchasing a car.
- 69% of women admitted to only cleaning the inside of their car two times a year. 53% of men clean their cars at least twice a month.
It is evident that the way men and women approach purchasing a vehicle very differently. Marketers need to understand these differences when dealing with men and women.
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Related sources: Edmunds, Kelly Blue Book, CBS News