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Study Shows New Cars Owners Abandon Quickly

(Credit: Daimler )

Car Buying Advice

Study Shows New Cars Owners Abandon Quickly

Sometimes people get rid of a new car like a hot potato. Maybe it’s that they get a new job overseas, have a sudden change in cash flow, or they just plain hate their new set of wheels. While all of these can be reasons, even more interestingly there are cars that people seem to dump early on at higher rates.

Research firm and car search engine iSeeCars.com leveraged its data to find a mere 3.4 percent of cars are resold within a year of their initial purchase. By looking at 46 million new car sales, it determined which new cars are most likely to be sold within the first year. The results are quite revealing.

Eight out of the top 10 are German or British cars. The other two are the cheapest Nissans available. At a whopping 12.4 percent resold within the first year, the Mercedes-Benz C-Class snatches the top spot. Not to be outdone, its rival the BMW 3 Series comes in second at 11.8 percent. Two Land Rovers, the Discovery Sport and Range Rover Evoque, occupy the third and fourth spots at 11.8 percent and 10.9 percent. BMW Group snags the next three slots with the Mini Clubman, X1, and X3 with 10.7 percent, 10.4 percent, and 9 percent, respectively.

Sandwiched between the two Nissans, which were in eighth and 10th place, is the Jaguar XF at 8.8 percent.

Several possible explanations for these rankings have been offered by iSeeCars.com, including poor reliability rankings, high operating costs, poor fuel economy, or in the case of the two Nissans, a general lack of features or style.

Source: iSeeCars.com

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