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Article: THE FUTURE OF CAR BUYING: DON'T SUPERSIZE ME
- Article from:
- US Fed News Service, Including US State News
- Article date:
- September 11, 2009
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ANN ARBOR, Mich., Sept. 10 -- The University of Michigan issued the following news release:
Big cars and trucks are out. Smaller ones that offer more for your dollar are in. And many drivers will hang onto the new cars they buy longer.
We've seen some of this before - in the 1970s. But there's reason to believe that this time, American car-buying habits have changed forever.
Scarred by the worst financial crisis since the 1930s and still leery of high gas prices, people are walking into showrooms intent on spending less. The trend is strongest among baby boomers, who are 44 to 63 years old and make up a quarter of the population, dealers and industry analysts say.
A generation ago, boomers ...