If you’re seeking a new vehicle to replace your current car, you probably will want to consider purchasing something in a nice silver or silver-gray, maybe white, according to Kelley Blue Book.
The KBB.com report is based on an annual color popularity study conducted by DuPont Automotive.
The top three overall colors for new vehicles are silver (23 percent), white (15 percent) and black (12 percent), and silver was the favorite color for every category except SUVs, minivans and light trucks, which represents just over half the new vehicle market.
In the SUVs, minivans and light trucks category, white nudged out silver and significantly overmatched all other color choices. This category represents 50.9 percent of the overall market for new vehicles.
The other categories in which silver was favored were: luxury vehicles (32.1 percent); sedans, wagons and hatchbacks (28.1 percent), and convertibles and coupes (24.6 percent). These categories represent 8.6 percent, 26.4 percent and 14.1 percent of the overall market, respectively.
Why is all of this important? Initial automobile marketing of new vehicles and resale/residual value.
Robert S. Daily, color-marketing manager of DuPont Automotive, a major paint supplier to the automotive industry believes it’s our affinity for technology that lures us to silver.
“Silver and gray reflect our fascination with technology, such as seen in the brushed chrome cues on laptop computer covers and other electronic devices,” he wrote. “Secondly, silver and techno-gray seem to accentuate the angular, ‘new-edge design’ of the latest luxury sport vehicles.” Others believe silver relates to “feelings of superiority” and “great mental powers,” said the KBB report.
And, “like many vehicle features, color plays a role in the residual value of your car. Put simply, today’s popular color will probably make your vehicle more popular to a buyer five years from now,” KBB said.
“It also follows that less popular colors depreciate your vehicle’s value. … It can vary from hundreds to thousands of dollars depending on the vehicle and the color in question,” according to KBB. “Sticking to neutral colors such as silver, white, black and gray are your safest bets.
“But, if you feel moved to more chromatic colors, bright yellow, orange, or purple vehicles could put you at a disadvantage when selling or trading in your vehicle.”
For more details on the KBB and DuPont Automotive report, go here.
If you need fast-and-easy vehicle financing for a used or new car, SUV, crossover or pickup, silver or not, visit RoadLoans to get the process started.
Written by:
James Mayfield is the Director of Content at Santander Consumer USA and has been creating content on financial topics for more than 10 years. In addition to writing for the Santander, RoadLoans and Chrysler Capital blog sites, his work has…
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