Fact #329: July 19, 2004
How Long Do People Plan to Keep Their Vehicles?
The majority of respondents to a nationwide survey indicated that they plan to keep a newly purchased vehicle for at least 100,000 miles before selling it. Twenty percent indicated that they would sell the vehicle when it has over 150,000 miles on it. Only 7% of the survey respondents said they would sell the vehicle before it has 50,000 miles on it.
|Before it has 50,000 miles||7%|
|When it has between 50,000 and 75,000 miles||13%|
|When it has between 75,000 and 100,000 miles||23%|
|When it has between 100,000 and 150,000 miles||22%|
|When it has over 150,000 miles||20%|
|Never will sell||15%|
Source: Nationwide random phone survey conducted by Opinion Research Corporation for the National Renewable Energy Laboratory, May 20–23, 2004 (N = 1036).