‘Tis the Season: Used Cars as Holiday Gifts
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BANDON, Ore. –
The holidays may bring some extra cheer to the used-car market, if Purchase Path survey data from CNW Research is any indication.
The share of used-car sales in December bought as holiday gifts could end up reaching a four-year high.
Of the shoppers planning to make a used-car purchase in December, 1.9 percent say they are buying the car as a holiday gift for someone, CNW said. The last time the proportion was this high in the used-car market was 2008.
Breaking down the intentions of these used-car gift-givers, 61 percent say the car will go their spouse/partner and nearly a quarter (24 percent) are making it a present for their child. Eleven percent are planning to give the car to a parent. The remainder listed “other” as the recipient.
Among new-car intenders, the proportion planning playing Santa (2.2 percent) is about the same. This marks a six-year high.
