The car industry has high hopes for the young. Automakers have invested and are investing billions into hybrid and electric vehicle, so far with lackluster success. In the U.S., the take rate of hybrid cars is actually coming down from a 2.78 percent peaklet in 2009. The 0.14 percent market share of EVs is too small to move the plotter’s needle. To recoup the investment, new tech vehicles have to be sold in more meaningful numbers. It is the generation Y that is supposed to set the needle in motion. A study of Deloitte Touche Tohmatsu promises that Generation Y will make a humongous difference.
Generation Y could be the “generation that leads us away from traditional gasoline-powered vehicles,” Craig Giffi, who is in charge of Deloitte’s annual survey of Gen Y auto consumers, told the L.A. Times. The paper summarizes: (Read More…)