Toyota Ranks First as Most Wanted Car This Holiday Season

Dec 07, 2023 02:59 AM EST

A Red Toyota GR86 on an Asphalt Road — (Photo : PEXELS/Matt Jenssen)

As the holiday season is fast approaching, so is the excitement of gift giving. This joyous event brings the spirit of love, generosity, and gratitude. Many want to give and be gifted. Gifts can be small or big, or even intangible. But some would not mind receiving a car for a gift. A survey reveals Toyota ranks number 1 as the most wanted car for the season.

Survey Reveals: Car on the Wish List is Not a Luxury Car but Toyota

AutoGuide shared that ExtremeTerrain, a website that specialize about aftermarket off-road parts and accessories, surveyed over 1,000 Americans about their feelings, aspirations, and practical concerns about giving cars as holiday gifts. Astonishingly, only a mere 5% of Americans have ever been fortunate enough to receive a car as a holiday gift. Nonetheless, the yearning for such a gift remains fervent, with 44% of Americans expressing their wish for a brand-new car this holiday season.

Interestingly, when it comes to the generous act of gifting cars, parents take the lead, constituting 57% of the car gift-givers, closely followed by significant others at 22%, and grandparents at 11%. What might surprise many is that the brand most coveted for this generous act is not a high-end luxury sports car like a Porsche or Ferrari but rather Toyota, with a significant preference rate of 42%, followed by Honda at 30%. This preference overcomes luxury since these reliable products are trustworthy and functional.

For those planning to make a car purchase during the holiday season, Toyota remains the top choice, with 43% of prospective buyers favoring the brand. This choice aligns seamlessly with the desires of those hoping to receive a car as a gift. Honda, with a 42% preference, and Ford, at 28%, also secure their positions on the list, underscoring a strong inclination toward reliability over extravagance in the decision-making process.

While holiday car shopping offers opportunities to capitalize on year-end deals, it comes with its set of challenges. Surprisingly, nearly 10% of buyers admit to experiencing buyer's remorse, citing reasons ranging from exceeding their budget (52%) to feeling pressured by sales tactics (35%).

Interestingly, despite the buzz surrounding electric vehicles, gas-powered cars still command a 36% preference among potential buyers.

Who Would Give a Car for Christmas

According to Torque News, when it comes to giving cars as gifts, the primary individuals who take on this generous role can be categorized as follows:

Parents take the lead, constituting the majority at 53%.
Significant others within romantic relationships come next, representing 22% of car gift-givers.
Grandparents also play a significant role in this practice, contributing 11% to the total.
A miscellaneous category that encompasses friends and other relatives accounts for the remaining 14% of those who choose to gift cars.

This breakdown reveals the diverse spectrum of individuals who engage in the act of giving cars as presents, with parents being the most prominent group among them.

Furthermore, Torque News analysis reported that roughly 50% of Americans express a desire for a car as a gift, and a significant majority among them lean towards Toyota as their preferred choice. Additionally, 50% of those desiring a car gift specifically favor electric vehicles (EVs).

Among Americans seeking to purchase a car as a gift this year, Toyota remains their top selection. About one-third of individuals in relationships have confidence in their partners to make a car purchase decision for them.

During this holiday season, approximately one-third of people have already completed a car purchase, with a noteworthy 10% encountering post-purchase regret.

Here is the list of most wanted cars for the holidays: