Consumers downsizing to smaller vehicles, Web site says
Bradenton Herald
September 20, 2007
HERALD WIRE REPORTS
The following story was breaking news in the Bradenton Herald.
MIAMI - Facing a housing downturn and high gas prices, consumers are starting to downsize into smaller vehicles, according to customer data analyzed by the Internet company LeaseTrader.com.
Information from the company, which helps people transfer car leases, shows that a growing percentage of its customers are turning away from larger cars in favor of smaller vehicles. Roughly 15 percent of its customers transferring out of their car leases are doing so with the intent of getting into a smaller car, the company said.
"That's a significantly large percentage for this business," stated Sergio Stiberman, chief executive officer and founder of LeaseTrader.com. "You're talking about a noticeable shift in customer preference, which we expect to resonate with the major car companies."
Car Lease transferrals are a growing trend. It offers consumers a choice to change vehicles as their automotive wants and needs change.
"Everything from the housing situation to rising gas prices have prompted many people to begin changing their automotive preference," added Stiberman. "Moderately-sized vehicles like the Mercedes C class and the BMW 3 series are among today's most preferred vehicles, according to customer data analyzed in our monthly LeaseTrader.com Index."
This story posted by LeaseTrader.com, the automotive service company that lets people transfer out of their Car Leases early. If you're looking to swap a lease or transfer out of your car lease, please visit www.leasetrader.com