US: millennials massively rooting for vehicle ownership image

Automakers, analysts and industry experts jointly brought in doomsday researches that showed millennials – shaping up as the largest fraction of US consumers – were uninterested in owning a personal car.

Instead, while conventional wisdom has come to take for granted the millennials are more interested in smartphones than cars, and would rather use bikes, public transport, car-sharing or even walking, recent studies have actually proven otherwise. A new research done by Enterprise Holdings is another indicator in that direction – no less than 91 percent of interviewed Millennials say it’s extremely or very important to own a vehicle – no matter the usage scenario (commute, run errands or enjoy lifestyle). And not surprisingly, since we’re talking about a rental firm, the study further shows Millennials are using rental cars as a way to test drive a car before deciding on a particular purchase. “When we provide our customers with a great rental experience, it doesn’t just keep them coming back to us – it clearly sends many of them into their local dealer showrooms, as well,” comments Kurt Kohler, senior vice president of fleet operations for Enterprise Holdings, who owns the Enterprise, National and Alamo rental brands.

We might take into question the merits of “rental test drives” but the overall picture is that numerous evidence now points out to Millennials not just dwelling in the parents’ basement. Data coming from J.D. Power and Associates, for example, shows the Gen-Y now makes up around 27 percent of the auto market customer base and is growing swiftly – forecasted to overcome Baby Boomers during the next decade.