Meet a Millennial: On the Car-Buying Journey
“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.
Want to learn more? Watch the video: