Millennials Want New Cars And Don’t Care About Price, Says New Study
It’s Millennials vs. Gen X once again, and this time, it has nothing to do with Survivor.
Automotive buyer intelligence firm Autolist.com has released a new study comparing the car buying habits of Generation Y (millennials) and Generation X (Xers), and it appears that millennials aren’t as into used cars as Gen Xers.
A survey of 3,383 vehicle owners nationwide revealed that millennials care more about buying a car new, in addition to caring less about vehicle price, reliability and automotive brand. So for millennials, it would seem a car is mostly a status symbol, since they’re willing to spend more to buy new, without any real care to what the car brand is or the degree to which they can even depend on the car in the first place. However, the study also shows that millennials care more about the environmental impact of their vehicle, and the features and tech.
As far as the most popular cars, the study found that the Ford Mustang is shared as the most popular performance car of the two generations, but that’s pretty much where the similarities ended. For example, in the truck category, millennials prefer the Chevy Silverado 1500, while Gen Xers prefer the Ford F-150. Among SUVs, Gen Xers prefer the Toyota RAV4 while millennials side with the Honda CR-V.
All in all, it’s a really fascinating study, and you can check out the entire thing by visiting Autolist.
What do you think of the study’s findings? Sound off in the comments!
And for more automotive news, find out what happens when a Ford catches fire at a medical clinic in South Africa!