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For women, affordability is key in their search for a new ride. That’s according to a new study from auto research company iSeeCars.com, which shows that when women shop for pre-owned cars, they are looking for ones that are “exceptionally affordable.”
And think about it, what brands scream “affordable” to you?
Well, the Korean automakers have occupied that space for a while, and consequently, the study found that women overwhelmingly trend toward Korean automakers when searching for their next vehicle.
The results were based on analyzing 54 million car sales and more than 500,000 consumer inquiries of cars for sale from iSeeCars.com over nearly a three-year period and categorizing the inquirers’ names as male or female, the company said.
iSeeCars.com found 10 cars where more than 60 percent of the prospective buyers were women — and half of these 10 cars tout Korean badges.
The Hyundai Tucson topped the list, and four Kia models, the Forte Sorento, Rio and Soul, made the list, as well. Two Japanese models ended up on the list — the Nissan Versa and Mitsubishi Outlander, joined by the Ford Fiesta, Jeep Patriot and the one European model: the Volkswagen Beetle.
When you think of most of these models, affordability and fuel economy come to mind, rather than luxury and performance, the iSeeCars.com team pointed out. In fact, six of the 10 cars women shop for more are small cars, while the other four are small crossovers.
“The qualities women really want in a car are affordability and practicality, in contrast to the kinds of cars men are most interested in buying,” said chief executive officer of iSeeCars.com Phong Ly.
And the site offers stats to back this assertion up. According to the site, the average price of the top 10 cars women want is $14,870, and all of them are priced below $20,000.
On the other hand, the average price of the cars on the top of men’s list is $49,224, and includes models such as the Nissan GT-R at No. 1, followed by luxury models including the BMW M3 and Porsche Cayman.
The top 10 vehicles men want focus more on sports cars and as iSeeCars.com pointed out, “specific driving needs,” such as large cargo vans and heavy-duty pickups.
“The difference in pricing seems to speak more to women’s interest in practicality, owning a car for transportation from point A to point B, and men’s view of cars as status symbols,” said Ly.
Case and point: The Hyundai Tucson, the car most desired by women, is an SUV with about 170 horsepower, gets 23 miles per gallon, and averages under $17,000, while the number one on the men’s list is the Nissan GT-R, a sports car that has over 500 horsepower, gets 18 MPG in fuel economy, and averages more than $80,000.
Courtesy: Auto Remarketing Today
