Toyota tops with people who stick with their cars for the long haul
Nine out of 15 spots for keeping new car 15 years
If you’re in the market to get married, you might want to consider a Toyota owner. According to a recent survey from iSeeCars. com, the top 15 cars kept by the original owner for 15 years includes a whopping nine Toyota models. This is the opposite of fear of commitment.
Julie Blackley of iSeeCars, an American automotive research firm, says when they looked at 650,000 cars between model years 1981 and 2002 in the U. S., there were 15 vehicles most likely to have been retained by the original owner for fifteen years or more; Toyota models are No. 1 to 5, with four others down the list as well. Tops is the Highlander, where it was found that 18.3 per cent of first-time owners kept them in their driveways for 15 years, with the Volkswagen Golf at number 15 with a 10.6- per- cent retention rate. Also on the list were the Honda Odyssey and CR-V, Acura MDX, Subaru Forester and Nissan Frontier. Average retention rate for all cars is 6.8 per cent.
In 2016 the firm did a survey but used 10 years of ownership as the focus. While average retention rate was 12.9 per cent — significantly higher than the 6.8 per cent for vehicles at the 15- year point — the additional five years is a healthy indicator that, despite record sales for several years, people who want to see a car through its lifespan and are willing to maintain it are now working with some truly great products. That survey was Toyota- heavy as well: five of the 10 cars were Toyotas, rounded out by three Hondas, one Lexus and one Subaru.
Blackley points out that in many cases, vehicles such as pickup trucks may not be represented well in such surveys because they are used as work vehicles rather than passenger cars. The Top 15 list is also heavy on SUVs and CUVs, which may point to more rugged design that is often not taxed by owners who are choosing them for comfort and size rather than challenging terrain.
A sister study for 2017 looked at the longevity issue from a different perspective. Ranking cars that have more than 200,000 miles ( about 322,000 kilometres) on them, the North American manufacturers show up strong, with the Ford Expedition taking top spot, having 5.7 per cent of models being kept for such high mileage.
“SUVs from General Motors, Ford and Toyota dominate the list of the longest- lasting light- duty vehicles, taking the top seven spots,” says Blackley. “These large SUVs have percentages of cars over 200,000 miles that are more than double and quadruple the average.” The company found that owners of these seven vehicles drove an average of 14,407 miles annually, 14- per- cent more than the average vehicle.” Average for all passenger and light- duty vehicles in this survey to reach 200,000 miles is 1.3 per cent.
These studies give clues about what kind of owners are in it for the long haul. But what about the reverse? Who bails on their newly betrothed the quickest?
Researchers at iSeeCars. com analyzed more than 24 million individual new car sales of model years 20152017 in calendar years 2015 and 2016 and found many luxury German cars are lurking: in the resell lot. With an industry average of 1.5 per cent, those first few numbers are eye- opening. The BMW 3 Series see eight per cent of its cars being sold within the first year; second is the company’s larger 5 Series at 7.1 per cent. BMW clocks two more cars in the top 10, with Mercedes having two: the CClass (third place) and the EClass ( eighth spot). Also appearing on the top 10 is the Nissan Versa Note, Dodge Dart and Chrysler 200, with the Subaru WRX in 10 th spot with a 3.2- per- cent resale rate.
This study offers up a couple of reasons for the makeup of these results. Often, a buyer has purchased an entry level to a luxury brand, and quickly moves up. Other times, dealers themselves are registering new vehicles in these highend badges because they use them as loaners, enticing current buyers to move up the luxury food chain. Of course this also can inflate sales numbers, a common practice in some segments and brands.
Another factor in these luxury brands heading for the door early, iSeeCars reports, is that people have invested in something expensive, and certain models struggle with quality or perceived quality i ssues. Owners are less likely to put up with glitches or issues if they’ve paid a lot of money for the vehicle. Back it goes, sometimes for something more reliable in the same stable, or to another manufacturer.
Or maybe it’s something else entirely; maybe those with more to spend can afford to change their minds more often.
That 15- year ownership study is a deep dive into who is actually satisfied with their vehicles enough to look at them and drive them for 15 years or more. New car reviews are useful, but that kind of history is invaluable.