Who is Buying Cars Right Now? Understanding Market Trends & Best Car Choices

Why People Are Buying Cars Now

Buying a car in today’s market is a significant decision. Despite recent market fluctuations caused by supply chain disruptions, car prices remain competitive, yet many buyers are still actively shopping. But why?

--FIRST CAR LIST HERE--

According to a study conducted by MotorVero, the top reasons people are in the market for a car include:

• 21% - Their current vehicle is old or requires costly repairs.
• 17% - Their household or family needs have changed.
• 13% - They want the latest technology and features.

Based on these insights, we’ve identified three key types of car shoppers. Let’s explore their needs and the best vehicles for each.

--TOP ADVERTISEMENT HERE--

1. Broken-Down Bobby: "My Current Car is Done."

Representing 21% of buyers, Bobby is looking for a reliable, budget-friendly car because their current one is either too old or too expensive to maintain. Typically, these shoppers prioritize affordability and reliability.

Key Trends for Bobby:

• Most (40%) are looking for used vehicles.
• Median budget: $20,000 - $30,000.
• 84% prefer gas-powered vehicles over EVs.

Top Vehicle Recommendations:

• 2018 – 2020 Toyota Camry
• 
  
• 2015 – 2019 Subaru Outback
• 
  
• 2016 – 2021 Honda Civic
• 
  

2. Lifestyle-Change Lory: "My Current Car No Longer Fits My Needs."

These shoppers, making up 17% of buyers, need a vehicle that suits their evolving lifestyle. Whether it’s a growing family, new hobby, or career change, they’re looking for something practical and safe.

--SECOND CAR LIST HERE--

Key Trends for Lory:

• 50% are considering new vehicles for updated safety features.
• 39% are interested in hybrid models; 30% in EVs.
• Median budget: $30,000 - $40,000.

Top Vehicle Recommendations:

• 2023 Toyota Sienna Hybrid
• 
  
• 2023 Kia Telluride
• 
  
• 2015 – 2020 Chevrolet Suburban
• 
  

3. Feature-Focused Frankie: "I Want the Latest Tech & Features."

Frankie represents 13% of car buyers who don’t necessarily need a new car but want the latest and greatest features. They are drawn to advanced technology, hybrid, and electric models.

--FIRST CONTENT ADVERTISEMENT HERE--

Key Trends for Frankie:

• 76% prefer buying new vehicles.
• 49% are considering fully electric cars; 56% looking at hybrids.
• Median budget: $40,000 - $50,000.

Top Vehicle Recommendations:

• 2023 Hyundai IONIQ 5
• 
  
• 2023 Mazda CX-5
• 
  
• 2020 – 2022 BMW 5 Series
• 
  

Is This the Right Time to Buy a Car?

After a turbulent period in the automotive market, 2023 is showing signs of stability, with more inventory and better pricing strategies. However, with demand still high, being an informed shopper is crucial.

--THIRD CAR LIST HERE--

Tips for Smart Car Shopping:

• Compare prices from multiple dealerships.
• Consider certified pre-owned (CPO) options for value and reliability.
• Research available incentives for hybrid and electric vehicles.
• Take advantage of online car buying options.

Whether you’re buying out of necessity or desire, MotorVero provides expert guidance, reviews, and connections to thousands of vehicles nationwide to help you make the best decision.

--SECOND CONTENT ADVERTISEMENT HERE--