As we all know, automotive is a tough business. Building great cars, making quality product and selling said product requires a lot of effort from ever corner of a company. The newest trend in the U.S. sees owners holding onto their transportation for much longer periods of time than normal.
According to a new report from Forbes, Americans are holding onto their rides for nearly eight years. Buick is tied with Dodge at 113 months of ownership, but not all of those Buick buyers are keeping their cars that long.
In fact, 2.7 percent of vehicles are traded in after only one year of ownership. That’s some major post-purchase dissonance. The 2014 Buick Regal ranked highest on the iSeeCars.com list of more frequently traded in vehicles. On average, 10.4 percent of 2014 Regal owners traded their vehicle in after just one year of ownership, four times greater than the aforementioned average of 2.7 percent. Despite being a solid vehicle, the larger Buick Lacrosse and baby-brother Verano have stolen the limelight, leaving the Regal as somewhat forgotten. It would be interesting to see if Buick is retaining those customers, or if they are even staying within the GM portfolio.
In a case of good news, bad news, it also means the Regal is one of the cheapest used car deals on the market. The 2014 Buick Regal is reported to depreciate 32.2 percent from its original purchase price. That can equate to a screaming deal on the used car lot.
As Buick continues to hone its product lineup, Buick chief Duncan Aldred says there is plenty to be down with the brand. That means better product division with less overlap. Of course, as Buick continues to rally around its “white space” ideal, that means more and more niches will begin to be covered, making Buick an intriguing brand to watch over the next few years.