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Posts Tagged ‘millennials cars’

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’ Purchasing Power Reshaping Auto Industry

Gen-Y auto purchasing power reaches $135 billion.

by on Jan.29, 2015

Millennials are starting to buy more new cars, after all, and have increased purchasing power.

It’s often said that Millennials have a very different view of the automobile – and a new study suggests they are gaining the purchasing power to reshape the auto industry into their own image.

Americans born between 1980 and the late 1990s are expected to account for about 25% of the new vehicle market this year. That means they will generate sales of 4.24 million vehicles, according to data tracking service TrueCar — the equivalent of $135 billion in purchasing power.

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Talking About The New Generation!

“Improving economic conditions are shifting the rhetoric around Millennials and car buying,” said TrueCar President John Krafcik. “They are the largest growing cohort in the market and saying they don’t like cars simply isn’t true anymore. We know having a car means the same thing to Millennials that it does to other generations: independence and identity.”

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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.

Consumer Insight!

“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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Millennials Move from Cars to SUVs – Just Like Their Parents

Compact cars lose their luster as Gen Y ages.

by on Aug.19, 2014

The Ford Explorer Sport is the perfect vehicle for conquering the concrete jungle.

Ford's Explorer is one of its more popular models with Gen Y as Millennials turn away from compact cars.

Conventional wisdom would suggest that Millennials would rather sit at home playing videogames and texting, and if they do buy a car, they’re likely to opt for something small, preferably with a battery.

As is so often the case, however, the prevailing sentiment is wrong, as several new studies reveal. Not only are Millennials buying cars in ever-larger numbers, but they’re opting for roomy crossovers and sport-utility vehicles, much like their parents.

Crossing Generations!

One likely explanation, according to Chris Travell, a vice president at Maritz Research, is that they want vehicles that can carry more of their stuff.

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Millennials Reshape the Car Buying Process

The American love affair with cars is downsized, not dead, finds new survey.

by on Aug.12, 2014

Despite reports to the contrary, millennials love cars, but when, what and how they buy them is different than earlier generations.

Reports of the death of the American love affair with cars have been greatly exaggerated, especially when it comes to young Millennial buyers, according to a new report – but what Gen Y wants, and how they go car shopping, is very different from prior generations.

Young shoppers, often saddled with debt, are looking for smaller, cheaper vehicles – and they’re far more likely to do their research online, often with their smartphones, according to new research by AutoTrader, the parent company of several major automotive web services.

The Word is "Free"!

“You hear a lot that this generation doesn’t care about cars,” said Isabelle Helms, AutoTrader’s vice president of research, during an appearance at the Detroit Automotive Press Association. “They do care about cars.” (more…)

More and More American Households Going Carless

New study adds further evidence the U.S. love affair with the automobile is waning.

by on Jan.24, 2014

Americans continue to spend less and less time on the road, even as the economy recovers.

It’s been 100 years since Henry Ford switched on the first moving assembly line, kindling America’s passionate love affair with the automobile.  But there are growing signs that the romance is cooling – notably including a new study showing that more and more Americans are going carless.

The number of U.S. households going without a vehicle has increased nearly every year since 2007—providing further evidence that motorization may have peaked in the United States, according to research by the University of Michigan Transportation Research Institute, or UMTRI.

Your Motoring Source!

“Recent studies have shown that — per person, per driver, and per household — we now have fewer light-duty vehicles, we drive each of them less, and we consume less fuel than in the past,” notes lead researcher Michael Sivak.

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Millennials Will Hand You Their Car Keys – But Don’t Take Their Cellphones, Finds New Survey

They’d just as soon stay home to shop – or meet with friends.

by on Mar.05, 2013

When they need a car, a growing number of Millennials will turn to carsharing services.

Forget guns – or car keys – it’s the cellphone you’ll have to pry out of the cold, dead hand of the typical Millennial, according to a new survey.

Brought up on social media, they’re as likely as not to stay home and text friends as drive over for a night out, found KRC Research, which conducted its survey for Zipcar, the largest of the U.S. carsharing services.

News You Can Trust!

The bottom line: By a more than two-to-one margin, Americans between the ages of 18 and 34 would be more likely to have a meltdown if you took their cellphone than their car keys. A full 65% said that losing their phone or computer would have a major, negative impact on their lives. Only 28% felt that about losing their car.

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Honda Gears Up

Gear Concept makes surprise debut in Montreal.

by on Jan.18, 2013

Honda Gears up for Gen-Y.

Considering the 1000s of journalists and industry leaders who descended upon Detroit this week, one is tempted to forget that things continue to happen in other parts of the industry. Indeed, there were several other significant auto shows occurring this week, some even making a bit of news.

Like the Montreal International Auto Show, where Honda decided to pull the wraps off the new Gear show car rather than bring it to Detroit – perhaps reflecting upon the fact that the Canadian market tends to be more favorable to urban-style minicars despite downsizing trends in the U.S.

Your Inside Source!

Formally known as the Honda Gear Concept Study Model, the prototype is designed to show that small cars can be more than utilitarian econoboxes. The show car may be “simple and utilitarian,” the maker says, but it is “also customizable, connected and full of personality.”

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