More consumers are said to be in the market for an auto purchase these days, according to one top automotive website.
Edmunds.com recently announced that up to 100,000 consumers across the U.S. are interested in buying a car in the near future, but for various reasons have not acted.
"There has been a recent surge of purchase intent that has not translated into sales. Given that these 100,000 shoppers represent about 10 percent of monthly sales, automakers and dealers should find a way to capitalize on the opportunity and entice these folks to actually buy," said David Tompkins of Edmunds.com.
The website also noted that the average mileage on trade-in vehicles has increased 8 percent in the past year and by 15 percent since January 2008. This suggests that many consumers are putting off auto purchases until their financial situations are more favorable.
Edmunds.com is also predicting that automobile sales will be 10 percent higher in July than they were in June. This suggests that thousands of consumers will also find themselves in the market for affordable new auto insurance premiums.
Learn how easy and convenient shopping for auto insurance can be. Get your free auto insurance quotes today!
Posted: July 29, 2009
Related Auto Insurance Articles
- Auto insurance fraud costs everyone money July 29, 2009
- Texting drivers far more likely to be in crashes July 28, 2009
- International road trips can require extra insurance steps July 28, 2009
- 49 of 50 states now require auto insurance policies July 24, 2009
- New technology offers ways to save on auto insurance July 24, 2009
- Consumers warned against automobile scam July 22, 2009
- Talkative drivers may be more at risk for accidents July 21, 2009
- Safest driving cities likely to see reasonable auto insurance rates July 20, 2009
- Hybrids may cost drivers more in auto insurance, maintenance July 17, 2009
- Cheap auto insurance tied to safe driving July 17, 2009
