You have probably noticed that an increasing number of young people are driving unique or stylish cars.
‘Generation Y’, born between 1977 and 1994, have grown up in wealthy times. They possess a tremendous amount of buying power. In addition, they exert great influence on friends’ and family’s purchases. Plus an overflowing numbers of new immigrant worldwide are buying cars like never before. While the 21-39 year old consumers spend or influence purchases of over $100 million dollars per year, its the youngest segment, under 25 years old, that are called “the most powerful (consumer) generation yet.”
What Do Young Buyers Value?
- Hard work
- Responsibility
- Doing it ‘smarter’
- Self-reliance/fiscal responsibility
- Family
- Entertainment, athletics, and adventure
- Control over very hectic lives
How Do They Choose Vehicles?
- In many cases, young buyers are investigating vehicles or dealerships recommended by family or friends.They are concerned with low price, but they are not necessarily buying the cheapest vehicle available.
For now, the young generation of buyers is very motivated by a feeling of life balance and escape, manifest in their strong desire for style and a premium image.
A percentage of young buyers, cars are purely ‘functional’. These buyers may be influenced more by practicality than by styling.The decisions of young buyers are driven by definite goals and underlying motivations.
The bottom line… Never underestimate the young buyers, every customers are visiting a dealership for a reason.
I welcome letters or inquiry regarding your experiences in purchasing a car or questions before buying the right vehicle for you. This column may not be the perfect solution but I know these can help you decide the right one, somehow.….
For some comments, letter or suggestions: Call me at Cell No. (604) 710-5404 or email me at jerrypineda@me.com
