COLORADO DRIVERS ARE IN ONE ACCORD WITH THEIR HONDAS
Colorado consumers may have a love affair with Subaru, but when it comes to settling down for the long haul, they prefer Honda, according to an analysis from iSeeCars.com.
iSeeCars.com examined 6 million used car sales to determine what makes and models consumers kept the longest. On average, the holding period for the top-selling models purchased new was 7.4 years in the U.S. and 7.8 years in Colorado.
Nationally, the Ford Expedition and the Chevrolet Corvette were the two new vehicles held for the most time, 9 years on average. Three Toyota models, the Sequoia, 4Runner and Avalon, were the next three when it came to longevity of ownership.
“While the average car buyer gets rid of their car 7.4 years after purchasing it new, there is a wide variety of cars that owners are more likely to keep for longer,” said iSeeCars CEO Phong Ly, in the report.
The Honda Accord doesn’t show up until the eighth spot and the Honda Odyssey the 10th, both at 8.3 years. But in Colorado, a Honda Accord is held an average of 9.6 years and the Odyssey for 9 years, ranking first and fourth.
When looking at manufacturers, Honda models purchased new in Colorado are held 8.6 years on average, followed by Toyota at 8.1 years. Subaru comes in fourth at 7.7 years.
Metro Denver buyers are even more bound to Honda. Of the 10 vehicles held onto the longest, five are Honda models, led by the Accord, with an average holding period of 9.7 years. The Honda Odyssey ranks third at 9.1 years, the Honda Civic, fourth at 8.8 years, the Honda CR-V sixth at 8.2 years and the Honda Pilot ninth at 8.1 years.
The Subaru Outback was held 7.9 years, ranking 12th and right behind it was the Subaru Forester.
Subaru ranks as the sixth or seventh best-selling make nationally, but in Colorado it ranks third. If Colorado car buyers are so attracted to Subaru, why don’t they keep them as long?
Tim Jackson, CEO of the Colorado Automobile Dealers Association, has a theory.
Because Subaru produces allwheel drive vehicles, they are more likely to be taken off-road or driven in bad weather than a twowheel drive Honda Accord.
“The people who are buying Subarus are putting tougher miles on them. They are probably getting more abuse than the Hondas during their lives,” Jackson said.