Interesting demographic report
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From: Southeastern USA
2010 E350 Luxury Sedan, Engine 272 (V6)
Interesting demographic report
USA Today had an interesting article reporting that last year, people 50 and over spent $87 billion on cars vs. only $70 billion for all those under 50. Spent it on new cars and on their cars.
Apparently the purchase power of the over 50's, especially the boomers, is going to increase exponentially over the next 20 years.
Once the markets return to normal, and they will, all that money in CD's, IRA's, 401(k)'s, etc. will start coming out.
Several of my over 60 friends purchased new cars in the past year, as did I.
Don't want to start a batlle of the ages, but it is a demographic group that should not be ignored and has always been a prime one for M-B - and it's dealers' service departments.
Apparently the purchase power of the over 50's, especially the boomers, is going to increase exponentially over the next 20 years.
Once the markets return to normal, and they will, all that money in CD's, IRA's, 401(k)'s, etc. will start coming out.
Several of my over 60 friends purchased new cars in the past year, as did I.
Don't want to start a batlle of the ages, but it is a demographic group that should not be ignored and has always been a prime one for M-B - and it's dealers' service departments.
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E350
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i535
I think car makers took it in consideration, at least new 5 series is more luxury than sport car. It has many complains from younger population, however BMW seems concerned only making max $. E350 also has delayed in more powerful engine upgrade since older people are not interested in power. So we are younger population are seriously suffering from baby boomers getting old man cars.
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2010 E550, 273 Engine: 2012 S550, 278 Engine
USA Today had an interesting article reporting that last year, people 50 and over spent $87 billion on cars vs. only $70 billion for all those under 50. Spent it on new cars and on their cars.
Apparently the purchase power of the over 50's, especially the boomers, is going to increase exponentially over the next 20 years.
Once the markets return to normal, and they will, all that money in CD's, IRA's, 401(k)'s, etc. will start coming out.
Several of my over 60 friends purchased new cars in the past year, as did I.
Don't want to start a batlle of the ages, but it is a demographic group that should not be ignored and has always been a prime one for M-B - and it's dealers' service departments.
Apparently the purchase power of the over 50's, especially the boomers, is going to increase exponentially over the next 20 years.
Once the markets return to normal, and they will, all that money in CD's, IRA's, 401(k)'s, etc. will start coming out.
Several of my over 60 friends purchased new cars in the past year, as did I.
Don't want to start a batlle of the ages, but it is a demographic group that should not be ignored and has always been a prime one for M-B - and it's dealers' service departments.
I'm almost there but still under 50.
Another thing here is that I own my car, i.e. I 100% paid for it (2011 E50 P2).
I think ownership difference should be mentioned here, i.e if leased, paid of or financed...
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Porsche 991S, Cayenne S, 1972 BMW 3.0CS E9 Coupe
I had just turned 16 when my Dad bought me my first Benz.
Then I woke up from my dream and had to run to catch the bus......
But I still have a long way to go before 50 ever finds me.
I paid for a new AMG in full. I hate paying bills of any sort (mainly 'cause I usually forget to do it.) I work hard and with periods of 'time on and time off' but get rewarded well when 'on.'
I have zero debt. And money saved to weather the storm. But cars are a big waste of money. I could have been a happy crack addict for a lot less.
Still, life's okay.
Then I woke up from my dream and had to run to catch the bus......
But I still have a long way to go before 50 ever finds me.
I paid for a new AMG in full. I hate paying bills of any sort (mainly 'cause I usually forget to do it.) I work hard and with periods of 'time on and time off' but get rewarded well when 'on.'
I have zero debt. And money saved to weather the storm. But cars are a big waste of money. I could have been a happy crack addict for a lot less.
Still, life's okay.
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From: Massachusetts
E350 4matic
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I'm guessing the demographics of MB owners in general are significantly different than MB members on this forum.
A lot of 50+ owners (and women) have no interest in joining a forum to discuss their cars.
A lot of 50+ owners (and women) have no interest in joining a forum to discuss their cars.
Last edited by BenzE350; Nov 18, 2010 at 05:54 PM.
Out Of Control!!
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From: Earth
Porsche Macan S SportDesign / Ex M-B's: 11 & 10 & 06 E350's, 02 S500
Count me in as suffering as well. My poor well being is being sacrificed every time I enjoy a cozy and comfy long distance ride, due to those old farts demanding such treatment!
Can't wait 'till the teens start dictating what I drive! Neon lights, rock hard suspension, OEM fart cans, and lack of sound deadening materials galore!
Can't wait 'till the teens start dictating what I drive! Neon lights, rock hard suspension, OEM fart cans, and lack of sound deadening materials galore!
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E350
Thread Starter
MBWorld Fanatic!
Joined: Nov 2009
Posts: 2,616
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From: Southeastern USA
2010 E350 Luxury Sedan, Engine 272 (V6)
Over 60 and own my 2010 E350
Not trying to start an argument, but thought it was interesting article that may show future of some cars.
I'm sure M-B is paying close attention to this for both the cars and getting them serviced by dealerships rather than DIY.
Last edited by El Cid; Nov 18, 2010 at 12:47 PM.
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Mercedes E55 AMG (2006), Mercedes 560 SEL (1991)
Almost there myself. Must point out, however, that though the over 50s do the bulk of the buying, the under 50s (their children) do influence the choice substantially...!
Brgds
Brgds
