New Study Shows Multiple Cars Are King in American Households

Tue Feb 12, 2008 9:00am EST

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Experian Automotive study finds nearly 35 percent of car-owning households
have at least three vehicles

    SCHAUMBURG, Ill., Feb. 12 /PRNewswire/ -- In a study of households with at
least one vehicle, Experian Automotive, a part of global information services
company Experian, found that households with three or more cars are the single
largest group among American car owners.
    The United States is still very much in love with the automobile, with a
national average of 2.28 vehicles per household. Experian Automotive found
single- and two-vehicle households are almost neck and neck, at nearly
34 percent and 31 percent, respectively. However, households with three or
more vehicles maintain the single largest category, at nearly 35 percent. The
number of vehicles per household varies across states and regions, with
Washington, D.C., having the highest single-car percentage (62.5 percent), and
South Dakota the highest percentage of households with five or more vehicles
(12.79 percent).
    The study also found that as the number of vehicles per household
increases, the types of vehicles shift. Households with only domestic vehicles
come out on top among two-vehicle households, comprising nearly 40 percent of
the category. When moving up to three- and four-vehicle households, Americans
tend to prefer a blend of domestic and import vehicles, at 49.8 percent and
59.87 percent, respectively. Households having only new vehicles also lead the
two-vehicle category, at 43.5 percent. Interestingly, as the number of
vehicles increases, so does the blend between new and used vehicles, with
60 percent of three-vehicle households and more than 70 percent of
four-vehicle households having a mix of the two.
    Other interesting findings in the study include the following:

    -- The most common pairing of vehicles in American households with two to
       four cars is a full-sized pickup truck and a standard, mid-range
       vehicle
    -- Of households with two or more vehicles in which one is an SUV, nearly
       25 percent also own a pickup truck
    -- The percentage of one-vehicle households for those earning $250,000 or
       more annually is 35 percent -- about the same as households with
       incomes of $25,000 to $34,999


    "It's obvious that regardless of where they live or what they earn,
Americans place a high value on owning vehicles and in having at least two in
their garage," said Scott Waldron, president of Experian Automotive. "Knowing
the number of vehicles on the road, the kinds of vehicles they are and where
they're located is crucial to enabling dealers and manufacturers to market to
consumers according to their vehicle needs and preferences."
    Experian Automotive provides the information and insight that drives
decisions across the entire vehicle sales cycle, ranging from market and
vehicle history reporting to credit and marketing services. Experian
Automotive assists dealers, lenders, manufacturers and consumers in making
sound business decisions in buying and selling vehicles by helping them
understand their market, manage lending risks, find new customers and provide
the information needed to feel confident about their purchases.
    About Experian Automotive
    Experian Automotive, a part of Experian Group Limited (LSE: EXPN),
delivers information services to manufacturers, dealers, finance and insurance
companies, and consumers. Experian(R) helps automotive clients increase
customer loyalty, target and win new business, and make better lending and
vehicle purchase decisions. Its National Vehicle Database, housing more than
500 million vehicles, along with Experian's credit, consumer and business
information assets, meets the industry's growing demand for an integrated
information source. Experian's advanced decision support services help clients
turn this information into improved business results. Experian technology
supports several top automotive Web sites, including eBay Motors, Yahoo!
Autos, CarsDirect.com, CarMax.com and NADAguides.com. For more information on
Experian Automotive and its suite of services, visit our Web site at
http://www.experianautomotive.com.
    The word "Experian" is a registered trademark in the EU and other
countries and is owned by Experian Ltd. and/or its associated companies.
     Contact:  Christopher Fielder
               Experian Public Relations
               1 224 698 8628
               christopher.fielder@experian.com

SOURCE  Experian Automotive

Christopher Fielder of Experian Public Relations, +1-224-698-8628,
christopher.fielder@experian.com
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