Car gift giving slumps during the holidays

CAMBRIDGE, Mass. - 

While gift-givers thinking of the best gifts this year probably consider the gift of a car a top-notch gesture, it is quite rare, according to CarGurus.

Only 11 percent of drivers who have been gifted a car for a special occasion received it during the winter holidays, according to a recent survey conducted by CarGurus.

CarGurus found it’s much more likely for someone to receive a car as a gift for a birthday (35 percent) or a graduation (43 percent).

“Winter time means that there will soon be holiday ad campaigns showing a shiny new car in the driveway, and some may think that the elated reaction is overdone,” CarGurus senior manager of consumer insights Madison Gross said in a news release.

“Yes, those dream-like moments are rare, but big red bow moments do actually happen from time to time and interestingly, gift-givers do a really good job of shopping for the right car for their friends and family. With solid research and a great deal on a new or used car you can create an unforgettable moment with a loved one.”

For those uncommon individuals purchasing a new model as a gift, they might not have to spend as much as they anticipated this year, according to Edmunds director of industry analysis Jessica Caldwell.

“Incentives reached near-record levels in October, so we expect automakers to continue to sweeten savings as the year winds down,” Caldwell explained a news release.

“With slower sales of 2017 model year vehicles, automakers and dealers are more likely to leverage fully the Black Friday holiday as an opportunity to thin bloated inventories to make room for 2018 models.”

Recent data from Edmunds centered on Black Friday shopping also suggests that this time of year planning is important for gift-givers and traditional shoppers alike because there will be plenty of potential car buyers looking to take advantage of this year’s plethora of deals.

During big holiday sales weekends, dealership traffic nearly doubles in size, according to Edmunds.

CarGurus said it surveyed more than 1,000 online participants who have been given a car as a gift, excluding drivers who received their first cars as gifts.

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