Cars play a large role in the projection of a driver’s identity, and can say a lot about their owners, even when they’re not behind the wheel. At AnalyticsIQ, we’ve performed in-depth research on car owners behavior to understand how it is linked to the vehicles they drive. Below are 23 of the predicted statistics that we identified which may surprise marketers as they connect with car owners.
Car buyer demographics: how do car owners behave?
Vehicle ownership has become essential for most consumers. Whether a household has one, two, or more vehicles in the garage, it’s undeniable that cars provide great benefits and status to our day-to-day lives.
But, how do vehicle owners’ lifestyle and personal finances relate to the automotive choices they make? Take a look at the following car ownership statistics:
Finances and investing behavior
- Real estate investors are 102% more likely to own three or more cars.
- Cryptocurrency investors are 3X more likely to not own a vehicle.
- Individuals who make mobile investments are 85% more likely to be Uber and Lyft users.
- Uber and Lyft users are 65% more likely to use digital payments, and 85% more likely to make mobile payments.
- Stocks and bonds investors are 56% more likely to own a Tesla than the general population.
- Individuals utilizing a professional financial advisor are 76% less likely to own a Volkswagen.
- Individuals with three or more cars are 96% more likely to prefer banking online, and 90% more likely to be concerned with financial planning and investing their finances.
- Individuals who own three or more cars are 65% less likely to invest in cryptocurrency than the general population.
- Tesla car owners are 54% more likely to be interested in using an airline credit card than the general population.
- Chevrolet, Dodge, and Ford car owners are highly unlikely to use an airline credit card, with Dodge owners being 59% less likely than the general population.
Personal interests
- Democrats are 65% less likely to own a minivan.
- Democrats are 54% more likely to consider safety as a top factor when shopping for a vehicle.
- Republicans are 95% more likely to own a minivan, and 120% more likely to drive a truck.
- Democrats are 56% more likely to be interested in carpooling than the general population.
Seeking Insurance Coverage
- Single, never-married individuals are 14% more likely to be in the market for auto insurance.
- Gen Z is 25% more likely to be in the market for auto insurance.
- Volkswagen drivers are 72% more likely to have pet insurance.
- Individuals who own 3 or more cars are 62% more likely to purchase homeowners insurance.
Charitable Giving
- Individuals who are highly likely to have recently donated to an animal welfare organization are 51% more likely to be Volvo car owners.
- Individuals who are highly likely to have recently donated to a medical care organization are 46% more likely to be BMW owners.
- Individuals who are highly likely to have recently donated to an environmental organization are 52% more likely to be Tesla car owners.
- Individuals who are highly likely to donate spontaneously are 37% more likely to be a Mazda car owner
- Individuals who are highly likely to donate to children’s charities are 74% more likely to own 3 or more cars.
AnalyticsIQ data powers the creation of all the car ownership statistics referenced in this article. Any comparisons that show a comparative lift or decrease in behavior (EX: X% more likely) are predictions compared against the general population.
Want to dig in deeper on new automotive audiences, or gain a better understanding of what your audience values when getting behind the wheel? Check out our Automotive page to access a number of additional resources. We love collaborating to find new ways our ethical approach to data can solve problems, so reach out to us at sales@analyticsiq.com. Let’s talk!