How Bitter Cold Influences Used Vehicle Choice
The severe winter weather is not only impacting shopping activity levels and prices in the used-car market, but it also appears to be influencing the types of used vehicles consumers are going after, especially in the icy Midwest.
That’s according to the latest Hot Used-Car Report from Kelley Blue Book, which found that full-size SUVs, luxury crossovers and full-size pickup trucks showed the largest increases in share of used-car shopping activity in December.
Arthur Henry, senior manager of market intelligence and market analyst at KBB, said in the report that the increase for these three segments was particularly noticeable in the Midwest.
Henry then looked at some of the more popular brands and segments within this region’s used-car market, pointing to General Motors as the top brand here. And the most-shopped models in the Midwest are the Chevrolet Tahoe, Chevrolet Suburban and the GMC Yukon.
“Most shoppers in this region favor domestic automobiles, but GM tops with its product offerings in the full-size segment,” Henry said in the report.
The Ford F-150 tops the charts for trucks in the Midwest, with the Chevrolet Silverado next in line, while the luxury crossover segment is led by the Lexus RX, he added.
Nationwide, here is how the monthly growth in share of used-car activity shakes out by segment:
Full-size SUVs were up 5.2 percent, luxury crossovers were up 3.7 percent and full-size pickup trucks climbed 3.5 percent. Full-size crossovers climbed 2.3 percent and compact luxury cars were up 2.0 percent.
There were 1.7-percent increases for luxury cars, luxury SUVs and midsize SUVs. Midsize crossovers were up 1.5 percent, compact crossovers moved ahead 1.0 percent, and entry-luxury cars inched ahead 0.1 percent.
Twelve segments showed decreases in share, most of them car segments.
On a model level, the 2011 Mercedes-Benz E-Class had the most growth in share at 18.8 percent. The 2011 Acura MDX was next at 15.5 percent followed by the 2011 Ford F150 Super Cab at 14.4 percent.
The 2011 Honda Odyssey increased its share by 14.1 percent, the 2011 Toyota Highlander moved up 13.8 percent and the 2011 Toyota RAV4 was next at 12.0 percent.
The 2011 Honda Civic was next at 11.6 percent, followed by the 2011 Honda CR-V (up 10.7 percent), 2011 Jeep Grand Cherokee (up 7.1 percent) and the 2011 Honda Accord (up 5.3 percent).