Study Proves Americans Love Multiple Cars

A study conducted by Experian Automotive – a global information services company – found that households with three or more cars are the largest group of American automobile owners.

The study found that the U.S. national average is 2.28 vehicles per household. Homes that have three or more cars make up 35 percent of American homes. Single-vehicle households account for 34 percent and two-vehicle households account for 31 percent. According to the press release, the vehicles per household vary between states and regions – as Washington D.C. (not New York City?) has the highest concentration of single-vehicle households (62.5 percent), while South Dakota has the highest percentage of five or more vehicles (12.79 percent).

(More details after the jump)

Scott Waldron, president of Experian Automotive, said, “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.”

Another interesting point; 35 percent of single-vehicle homes earn $250,000 or more annually, roughly the same percentage as those earning $25,000 to $34,999.

Now, we’re not going to ask you home much you make. But, what’s your vehicle per household number?

Let us know in the comments.

PRESS RELEASE:

SCHAUMBURG, Ill., Feb 12, 2008 /PRNewswire via COMTEX/ — 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: 58.72, -0.03, -0.05%) 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.

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