Consumers Who Cashed In on Clunkers Plan to Cut Back for the Holidays
November 25 2009 - 11:18AM
PR Newswire (US)
CHICAGO, Nov. 25 /PRNewswire/ -- According to a recent Cars.com
survey, many shoppers who took advantage of the government's Cash
for Clunkers program plan to cut back on holiday shopping this
year. According to the survey, 63 percent of consumers who
purchased a car during or before the program expressed that they
would be cutting back more than usual on their holiday shopping
this year as a result of their car purchase. "For many consumers,
the incentives offered by the government clearly helped bring some
shoppers into the new car market," said Cars.com Editor in Chief
Patrick Olsen. "While there are signs that the economy is heading
in the right direction, it seems as though consumers who took the
plunge and recently bought a car will continue to tighten up their
wallets through the New Year." Men are much more likely to cut back
on holiday spending as a result of their recent purchase, with 75
percent of men expressing they will cut back more than usual.
Consumers ages 25 to 34 also were more likely to cut back than any
other age group with close to 80 percent saying their recent car
purchase has them cutting back more than usual. About the Survey:
The survey was conducted for Cars.com by Impulse Research Corp.
with an online random sample of 1056 men and women 18 years of age
or older who have purchased a new or used vehicle in the past 3
months or are planning to purchase a new or used vehicle in the
next 6 months. The overall sampling error rate for this survey is
+/-3 percent at the 95 percent level of confidence About Cars.com
Cars.com is the leading destination for online car shoppers,
offering credible, easy-to-understand information from consumers
and experts to help buyers formulate opinions on what to buy, where
to buy and how much to pay for a car. With comprehensive pricing
information, side-by-side comparison tools, photo galleries,
videos, unbiased editorial content and a large selection of new-
and used-car inventory, Cars.com puts millions of car buyers in
control of their shopping process with the information they need to
make confident buying decisions. Launched in June 1998, Cars.com is
a division of Classified Ventures, LLC, which is owned by leading
media companies, including Belo (NYSE:BLC), Gannett Co., Inc.
(NYSE:GCI), The McClatchy Company (NYSE:MNI), Tribune Company and
The Washington Post Company (NYSE:WPO). DATASOURCE: Cars.com
CONTACT: Jackie Brennan, Associate Public Relations Manager,
+1-312-601-6229, or (mobile), +1-219-577-6106, , or Steve Nolan,
Public Relations Manager, +1-312-601-5163, (mobile),
+1-630-310-2468, Web Site: http://www.cars.com/
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