Meet a Millennial: On the Car-Buying Journey

Aug 16, 2017 | | |

Meet a Millennial: On the Car-Buying Journey

By Tess Karesky

“Millennials, millennials, millennials!” It seems like this generation has dominated news headlines more than any other. And while we might be getting sick of hearing about them, how they’re “killing” industries and changing culture, all the talk is not without good reason. Millennials make up approximately 24 percent of the total population and have an estimated buying power of 1.7 trillion dollars.1 And as we’ve noticed, their power as a generation has the ability to affect massive change – economically, culturally and politically. In automotive specifically, millennials are beginning to flex their influence as they’re expected to generate 40 percent of U.S. new-vehicle unit sales by 2020.1

So, what’s it like when a millennial wants to buy a car?

So, what’s it like when a millennial wants to buy a car? What motivates them to buy? How do they choose their car? Their dealership? Let’s follow a typical Millennial —for our purposes we’ll call him Malik — through the car buying process.

Read the Rest on Driving Sales

 

Want to learn more? Watch the video:

 

 
TESS KARESKY
Retail Insights
Tess Karesky is a Marketing Research Specialist at CDK Global providing insights and thought leadership to drive the industry forward. She has researched the behaviors and habits of Millennial, luxury, Hispanic and female shoppers, in addition to other consumer groups. Her findings include insights into optimizing web content, reputation, advertising, sales and service experience, and customer retention. Her research has been presented to automotive executives at Lexus, Audi, Nissan, Infiniti and GM, as well as industry events including the Driving Sales Most Valuable Insight award. She feels strongly in the value of quality, engaging research that provides actionable insights. She can be reached at tess.karesky@cdk.com.

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