What’s Your Dream Car: New Research Commissioned By Carvana Reveals What Americans Want In Their Dream Car

Rhea-AI Summary

Carvana: New Survey Data Reveals Americans' Emotional Connection to Dream Cars

Data Sheds Light On Modern Day Car Buyers’ Emotional Connection To Their Vehicles

PHOENIX--(BUSINESS WIRE)-- Carvana, an industry pioneer for buying and selling used cars online, today issued new survey data that sheds light on the emotional connection Americans can share with their cars, and the enduring appeal of owning one’s dream car. This new research comes at a time when actualizing one’s dream car is now easier than ever through the use of powerful technology and a customer-centric approach that’s already disrupting the automotive industry. In new survey data, collected by OnePoll on behalf of Carvana, a sample of 2,000 respondents revealed the importance a dream car holds, with one in three respondents (33%) starting to nurture their dream car aspirations at an early age.

New research commissioned by Carvana sheds light on what people look for in their dream car. (Graphic: Business Wire)

Respondents cited James Bond’s beloved Aston Martin DB5 as their favorite car from a movie (12%) followed by the Ford Mustang GT 390 from Bullitt (11%), The Italian Job’s Mini Cooper (10%), and Dr. Brown’s DeLorian DMC-12 from Back to the Future (8%). Other than cars appearing in movies, the top three dream cars were the BMW M4 (17%), Tesla Model S (16%), Mercedes-Benz S-Class (16%), Chevrolet Corvette (14%), and Ford Mustang (14%).

Drivers prefer SUVs (29%), followed by luxury cars (17%) and sports cars (14%) among survey respondents. Interestingly, survey data revealed that respondents are ready for those vehicles to come in more eco-friendly options, too, as more than half (52%) of respondents shared they dreamt of owning either a hybrid or an EV.

Black was the most popular choice (22%) followed by white (16%) and red (13%). Almost half of the respondents (46%) have gone as far as giving their car names with the most popular being Bluebell (14%), Black Beauty (13%), and Baby (12%).

“Everyone has a dream car—whether it's something like James Bond’s classic Aston Martin, a stylish, eco-friendly EV, or a black SUV equipped with all the modern safety and tech features,” said Brian Boyd, Senior Vice President, Inventory at Carvana. “These days, people want something that is smart, efficient, and dynamic. Best of all, now finding one’s dream car is easier than ever. Every Carvana customer gets the same access to the convenient, transparent shopping experience and a nationwide selection of great vehicles.”

In 2023, technology (26%) was the leading factor that influenced people's dream car followed by performance (25%), safety features (25%), reliability (23%) and emotional appeal (20%). More than 40% of survey respondents said they would pay north of $100,000 for their dream car if necessary. Additionally, six out of 10 respondents aspire to own their dream car over their dream home, as emotional attachment to cars grows stronger.

Best of all, the dream cars most Americans aspire to are closer in reach than ever. Carvana allows shoppers to purchase a vehicle from the comfort of their home while completing the entire process online, including financing. Customers benefit from a nationwide selection of cars allowing consumers to be specific about make, model and features. Customers also benefit from its no-haggle, transparent pricing and the company’s policy against charging additional dealer or document preparation fees. Carvana offers home delivery or pick-up at one of our iconic Car Vending Machines, and customers get a significant upgrade over a test drive with the Carvana 7-day no-reasons-needed money back guarantee.

About

Carvana (NYSE: CVNA) is an industry pioneer for buying and selling used vehicles online. As the fastest growing used automotive retailer in U.S. history, its proven, customer-first ecommerce model has positively impacted millions of people's lives through more convenient, accessible and transparent experiences. Carvana.com allows someone to purchase a vehicle from the comfort of their home, completing the entire process online, benefiting from a 7-day money back guarantee, home delivery, nationwide inventory selection and more. Customers also have the option to sell or trade-in their vehicle across all Carvana locations, including its patented Car Vending Machines, in more than 300 U.S. markets. Carvana brings a continued focus on people-first values, industry-leading customer care, technology and innovation, and is the No. 2 automotive brand in the U.S., only behind Ford, on the Forbes 2022 Most Customer-Centric Companies List. Carvana is one of the four fastest companies to make the Fortune 500 and for more information, please visit www.carvana.com and follow us @Carvana.

Carvana also encourages investors to visit its Investor Relations website as financial and other company information is posted.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230717066943/en/

MEDIA CONTACT:

Carvana Communications

David Klemow

press@carvana.com

Source: Carvana

FAQ

What did the new survey data from Carvana reveal about Americans' emotional connection to their cars?

The survey data revealed that Americans have a strong emotional connection to their cars and the enduring appeal of owning their dream car.

What are some of the top dream cars cited by respondents in the survey?

The top dream cars cited were the BMW M4, Tesla Model S, Mercedes-Benz S-Class, Chevrolet Corvette, and Ford Mustang.

What factors influenced people's dream car choices in 2023 according to the survey?

The leading factors influencing people's dream car choices were technology, performance, safety features, reliability, and emotional appeal.

How do Carvana customers benefit from the company's services?

Carvana allows shoppers to purchase a vehicle from the comfort of their home while completing the entire process online, including financing.