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Saturday, January 15, 2011
Generation Y Car Buyers
I participated in a media interview today, answering questions about young people aged 19 to 35 and their likelihood of buying less cars. I mentioned the Deloitte study that just came out during the Detroit auto show about Gen Y, ages 19 to 31, making up 40% of car shoppers with utmost concerns about tech toys like connectivity and apps in their cars, and that they're also concerned about good customer service from dealers.
Gen Yers will probably buy less cars than baby boomer parents/grandparents, and they do have some concerns about air pollution, traffic, and cost of ownership. For now, they're less excited about cars than boomers, but that could change after the recession lifts. They will most likely be interested in fuel efficient, high performance, cool, tech gadgeted machines that offer manageable monthly payments. Some will be hot for the Tesla Roadster and other race cars, but most will be concerned about affording their future. And as gas prices go up again, this offers another angle for marketing green cars.
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