/ Industry, News / Survey shows most young buyers lured by high-tech cars

Survey shows most young buyers lured by high-tech cars

Linked In Share
Survey shows most young buyers lured by high-tech cars

A global survey of consumers shows that while young consumers may not be as passionate about cars as their parents, most still plan to buy or lease one within the next three years and they would like it to be a fully connected hybrid.

Of the cohort known as Generation Y, 61% say they intend to acquire a car in the next three years, with almost a quarter indicating they’ll get a new set of wheels within 12 months. Only 8 % of consumers born between 1977 and 1994 said they will never buy a vehicle, according to the survey by Deloitte LLP.

Automakers are increasingly targeting younger drivers through methods such as social-media ads amid concern they aren’t interested in cars. The study’s findings offer insight into how to get them into the showroom. While horsepower isn’t a lure, Internet access and fuel savings through gasoline-electric hybrids is.

“While Gen Y may not necessarily scrutinize horsepower, acceleration times or engine size, they do have clear needs, wants and desires, especially when it comes to remaining connected to all of their lifestyle technology while on the road,” Masa Hasegawa, a principal at Deloitte Consulting LLP, said in a statement. “Gen Y consumers across the board also want safety technology, especially features that mitigate the risks of distracted driving.”

Automakers and other marketers are keen to crack the code on selling to this younger demographic, a group of about 80 million consumers in the U.S. that’s almost as large as the Baby Boomer generation born after World War II. Yet automakers have said that winning over Generation Y is challenging because they are not as enamored with cars as their parents.

With 48.8 million consumers planning to purchase or lease a car in the next three years, the opportunity to cater to this generation is coming on fast, according to the study. Making that purchase affordable is the top priority to Generation Y. Some 64 % of Generation Y consumers told Deloitte they love their cars, yet they are three times more likely than other generations to abandon their vehicles if they become too costly.

Young consumers want fuel efficiency to come from new technology, with 59 % saying they expect to be driving a car with an alternative powertrain in the next five years. Hybrid electric cars are the group’s preferred vehicle, with 29 % saying they would opt for that propulsion system.

Via Bloomberg

by Aurel Niculescu (my Google+) - Friday, January 17th, 2014 - filed under Industry, News. Image credit: .
Linked In Share
Related Articles


Discuss: Survey shows most young buyers lured by high-tech cars

Leave a Reply


















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Mercedes-Benz S 500 4Matic Coupé and S 63 AMG 4Matic Coupé prices revealed
Mercedes-Benz S 500 4Matic Coupé and S 63 AMG 4Matic Coupé prices revealedThe duo is now up for grabs for the mere amount of 125,961.50 euros for the S 500 4Matic Coupé and 170,586.50 euros for the S 63 ...
See a kickboxing world champion’s very gold Ferrari
See a kickboxing world champion’s very gold FerrariWhile you can’t judge the taste of covering a car in a layer of gold vinyl, you wouldn’t actually even dare to think about ...
Skoda Fabia drops its price in Australia
Skoda Fabia drops its price in AustraliaThe 2014 Skoda Fabia has recently dropped its price in Australia, where the model in question is currently available from 15,990 ...
[VIDEO] POV Drive in the McLaren P1
[VIDEO] POV Drive in the McLaren P1A video find with a POV drive in one of the most exciting supercars McLaren has ever made, the P1, couldn’t have went by ...
Russia: Mercedes-Benz could start local production
Russia: Mercedes-Benz could start local productionDaimler AG, the German parent of the luxury brand Mercedes-Benz is now weighing the option of starting local manufacture of ...
Rented Lamborghini Gallardo gets crashed in Australia
Rented Lamborghini Gallardo gets crashed in AustraliaA birthday boy who wanted to celebrate has rented a Lamborghini Gallardo and managed to crash it in Australia, after hitting the ...
Unique black Maserati MC12 for sale
Unique black Maserati MC12 for saleA one and only black Maserati MC12 supercar is currently looking for a new owner in California at Ferrari of Newport Beach. A ...
UAW further battling lost vote in VW’s Tennessee plant
UAW further battling lost vote in VW’s Tennessee plantThe United Auto Workers (UAW) asked the National Labor Relations Board (NLRB) in a filling to delay its April 21 hearing related ...
[VIDEO] Mercedes S63 AMG Coupe is still tested on the Ring
[VIDEO] Mercedes S63 AMG Coupe is still tested on the RingThe brand new Mercedes-Benz S63 AMG Coupe is still being tested on the famous German track the Nurburgring, even if it has been ...
Canada: auto sales barely going up in March
Canada: auto sales barely going up in MarchWhile auto sales in the US had a higher than expected performance in March, the northern neighbor, Canada, only edged a positive ...
Carbon fiber roof Lamborghini Huracan Spyder rendered
Carbon fiber roof Lamborghini Huracan Spyder renderedA Lamborghini Huracan Spyder rendered with a carbon fiber roof has made its way onto the web so we can’t say we’d hate Lambo ...
[VIDEO] See the Ferrari 458 Special in action on the Franciacorta
[VIDEO] See the Ferrari 458 Special in action on the FranciacortaThe Ferrari 458 Speciale has been recently taken to the Franciacorta International Circuit, where the model in question has been ...
Daimler buys out electric stakes from Evonik
Daimler buys out electric stakes from EvonikTwo companies that were until now run in partnership with Evonik will see Daimler as the sole owner, as the German automaker ...
Skoda Yeti Ice special edition goes official
Skoda Yeti Ice special edition goes officialSkoda has recently announced a new special edition of the Yeti, which will be named the Ice Special, and it will get the faux fur ...
China considers expanding electric car incentives
China considers expanding electric car incentivesAccording to Vice Premier Ma Kai, those who opt for a non-polluting electric car might have new incentives on the way, as past ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

gold Ferrari
Unique black Maserati MC12 for sale 1
Carbon fiber roof Lamborghini Huracan Spyder rendered 1
Student crashes his Gallardo Balboni in Malaysia 1
LamboCARS photography
Jeep teasing two new concepts for 2014 Easter Jeep Safari 1
Fiat Panda and Punto Young officially unveiled 1
CEO of GM, Mary Barra - Congress demands answers
mini cooper t 1
ferrari laferrari monaco 1
Citroen C4 Cactus Arsenal Edition 1
ferrari-458-italia-crash spain 1

More automotive from inautonews
The duo is now up for grabs for the mere amount of 125,961.50 euros for the S 500 4Matic Coupé and 170,586.50 euros for the S 63 AMG 4Matic Coupé. The dealerships will have them in September, so plenty of time for braking up the piggy bank. As the two cars will arrive right from the start of the ...
read more
Inautonews Editors Section
Test Drive: Renault Captur 0.9 – TCe 90 – fast review
Test Drive: Renault Captur 0.9 – TCe 90 – fast review After we’ve tested almost all Renault Captur models, we decided to check out the 3-cylinder engine - 898 cc 66kw (90 hp) model. Why we’ve ...
Test Drive Fiat 500L Living – Review
Test Drive Fiat 500L Living – Review Who ever thought in 2007, when Fiat unveiled the new 500 citycar that the Italian automaker will ever build a seven-seater 500 model. Clearly, ...
Test Drive Fiat 500L Trekking – Review
Test Drive Fiat 500L Trekking – Review Fiat had a great success back in the 60’s with the 500 model. It was cheap, practical and equipped with a 479 cmc petrol engine – that’s why ...

Editors Section
Inautonews Editors Section
2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video] 2009 safest cars Euro NCAP

Latest in Safety US government makes backup cameras mandatory by 2018In a good example of how a study can trigger a new safety feature, the US Department of ... GM denied fixing the faulty ignition switch because of high costs: 57-cent a unit!General Motors failed to change the defective ignition switches because the cost of the replacement ...
Safety Section