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Posts Tagged ‘gen y cars’

Long-Reviled Pontiac Aztek Finds a New Generation of Buyers.

Quirky crossover proves Bad can be good for millennials.

by on Sep.10, 2015

The Pontiac Aztek was hailed for its utility, reviled for its strange design.

Bad is good, at least when it comes to the old, and long-reviled Pontiac Aztek.

Routinely named as one of the ugliest vehicles ever to roll off a Detroit assembly line, the quirky crossover-utility vehicle is suddenly finding a new generation of fans, apparently as a result of its role in the recently ended AMC channel’s “Breaking Bad” TV series.

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The Aztek is just one of several now-discontinued models to connect with Millennial buyers after being largely rejected during their initial production runs. Other models include the Dodge Magnum wagon and Chrysler Pacifica crossover, according to a study by data service Edmunds.com.

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Nine in Ten Millennials Say it’s “Important” to Own a Car

Rental cars provide alternate way to test drive vehicles.

by on Jun.29, 2015

Millennials may be more interested in buying cars than the auto industry has realized.

Conventional wisdom would suggest that Millennials are more interested in cellphones than cars, that they’d rather walk or bike, or at least stick to mass transit, rather than planting a vehicle in their driveways.

If a new study by Enterprise Holdings is any indication, conventional wisdom – as is often the case – needs to be stood on its head. The study finds 91% of Millennials calling it extremely or very important to own a vehicle, whether to commute, run errands or simply enjoy their lifestyle.

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Perhaps not surprising, considering the source, the study indicates that Millennials are turning to rental cars as an alternative way to go for a test drive.

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Millennials Wants Wheels After All

MTV study finds Gen-Y would give up texting before their cars.

by on Jan.26, 2015

Millennials may be more interested in buying cars than the auto industry has realized.

It’s become conventional wisdom that Millennials would rather text their friends than drive over to visit, but a new study by youth-oriented MTV suggests that, as is often the case, conventional wisdom has things upside down.

A survey of 3,600 Millennials reveals that three out of four would give up their social media for a day, and texting for a week, rather than hand over the keys to their cars. One reason more teens aren’t rushing out to drive, the study suggests, is that new licensing rules make it harder for them to get behind the wheel.

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“Millennials, like other generations, see car ownership as a way to establish independence,” Berj Kazanjian, Senior Vice President of MTV’s Ad Sales Research, said at a presentation of the new finding during the annual National Automobile Dealers Association convention in San Francisco. “Millennials,” he added, “also see car ownership as a way to craft their unique adult identity.”

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New Study Challenges Conventional Wisdom About Millennial Motorists

Young drivers are “passionate” about driving after all.

by on Jan.27, 2014

Conventional wisdom says they prefer smartphones but a new study finds Millennials are also "passionate" about their cars.

A new study challenges the conventional wisdom that younger buyers just aren’t all that interested in buying a new vehicle.

They are surprisingly “passionate” about cars – but to get those under 25 into their showrooms, makers must deliver vehicles that stand out from the crowd, contends a study by J.D. Power and Associates.

“This age group really is passionate about vehicle ownership,” says Arianne Walker, senior director, automotive media & marketing at J.D. Power.   “Not only do they enjoy driving but they also see their vehicle as a reflection of their identity.”

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The survey’s findings stand in sharp contrast to what has become conventional wisdom in recent years: that Millennials are more interested in smartphones and other digital technologies than they are in cars.  Another recent study by the University of Michigan Transportation Research Institute found that young buyers are a key reason why there’s been a sharp rise in the number of carless households in the U.S. in recent years.

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Gen-Y May Be Ready to Buy Cars After All

They just don’t have the money, cautions new study.

by on Jan.17, 2014

A new study says Millennials may just want to own cars after all.

It’s become gospel that Gen-Y buyers simply don’t care about cars, that they’re happy to live at home with their parents simply tweeting and texting to friends. But a new study counters that Millennials would be quite happy to get new wheels – if they could afford them.

Though they may not have the emotional attachment to the automobile of prior generations, the report by Deloitte LLP argues that an overwhelming majority of those from Gen-Y still want to own a vehicle.  Only one in 10 told surveyors that they don’t ever plan to lease or buy one.

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“This is good news for carmakers, who already offer — or are bringing to market — many of the features Gen Y consumers most want in a vehicle,” said Masa Hasegawa, one of the principal researchers.

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Shift to City Living Threatens Auto Industry

Is momentum shifting to mass transit?

by on Jun.28, 2012

More and more young Americans are moving back to cities and skipping the morning commute.

The growth of the U.S. auto industry closely coincided with another dramatic change in the American landscape, the move by tens of millions of Americans from cities to suburbs.

But newly-released U.S. census data show that, for the first time in a century, cities are growing faster than surrounding suburbs.  And that, tied to other demographic and psychographic trends could pose potentially serious challenges to automakers desperately seeking further growth.

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The shift back to urban living is largely being led by the so-called Millennial generation, and research is finding that members of Gen-Y are also far less interested in owning or driving automobiles than those from previous generations who led the tract home migration.

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Detroit Makers Still Struggling to Win Young Buyers

But there are some surprises among the brands Millennials want most.

by on Jul.07, 2011

Scion's tC is the most popular model with Millennials.

Conventional wisdom suggests that young buyers will turn away from the products their parents drove – potentially good news for Detroit’s Big Three who collectively lost the big Baby Boom generation to the imports.

New models, such as the Ford Fiesta, are specifically targeting Generation-Y, and the success of those products could determine whether Detroit reverses decades of market share losses, particularly in trendy coastal regions, such as California, where domestic brands account for barely one in four current car sales.  (Click Here to find out which are the most “patriotic” automotive markets.)

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Unfortunately for the Motor City, a new study suggests that while Gen-Y might be turning away from some traditionally strong Japanese marques, like Toyota and Honda, those young buyers are continuing to focus on Asian, rather than American, automakers.

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