Try as they might, auto makers aren’t reaching Generation Y with their online social media properties. A new study by AutoTrader shows that just 5 percent of Millennials used social media to shop for vehicles.
Tag: generation why
Generation Y has just edged out Generation X in the new car market. A study by J.D. Power shows that, year-to-date, Gen Y buyers (defined as being born in 1977-1994) are buying 26 percent of new vehicles, versus Gen X (1965-1976), which bought 24 percent of new vehicles in the same period.
The new Citroen C4 Cactus is delivering on its promise to offer a C-Segment car for a B-Segment prices, with base versions starting at just under 14,000 euros – by comparison, its sibling, the C4 hatchback (which is more like a Volkswagen Golf, as opposed to the quirky, pseudo-crossover Cactus) starts at 18,850 euros. But the low price of the Cactus isn’t even the big story here. Instead, Citroen appears to be aping the mobile phone industry with two new innovative pricing plans for the Cactus.
News of Audi’s marketing efforts for the upcoming A3 has been making the rounds on the auto blogosphere for all the wrong reasons. As Automotive News reports, the 60-odd page launch guide given to dealers is supposed to be a codex for appealing to Millenial buyers with “farm-to-table” food, craft beer and Spotify playlists. Since the goodwill towards my angry-young-millennial shtick has evaporated over the past two years, I’ll say that this whole thing sounds like Audi trying to copy GM’s ham-handed youth marketing efforts. For now, let’s bring it back to the product.
The A3, as we know, is a front-drive Audi 4-door that only comes with a two-pedal transmission and is based on the same MQB platform as the Golf. And I’m really looking forward to it.
Back in September, I wrote a piece lamenting the death of Honda’s high-perofrmance hallmark, the twin-cam VTEC 4-cylinder engine. It was just the sort of article many of you are fed up with: a lengthy piece filled with flowery prose and Honda fanboy-ism sprinkled with a condescending explanation of the auto industry’s inner workings. Miraculously, it was fairly well-received. But I’ve had a change of heart.
Younger buyers and subprime consumers are expected to drive auto sales in 2014, though some banks are already stepping off the accelerator with auto loans due to heavier competition and a desire to protect their margins.
Just a quick note – tomorrow, Tuesday, January 28th at noon, I’ll be part of a panel discussion with the The Globe and Mail, a major newspaper in Canada, about the chief topic of Generation Why: the relationship between millennials and the automobile. I’ll be joined by Chris Travell of Maritz Research, who should be able to provide an interesting, data-driven outlook on the issue. For those who prefer excellent automotive reporting to the rantings of a 20-something malcontent, Greg Keenan, the Globe’s auto industry reporter, is a must-read.
One of the main criticisms of Generation Why is the lack of hard data to support this column’s ongoing thesis: that the lack of interest in car ownership among millenials is related to economics, rather than any sort of anti-car/pro-environment/pro-urban ideological shift among young people. Now, a key study from Deloitte confirms our initial hunch: young people want cars, but cannot afford them, and the notion of a car-free future, with walking, cycling and transit replacing the automobile (whether privately owned or shared via a service like Zipcar) is an unrealistic fantasy that somehow continues to have currency.
Rivaling Jack’s tales of his harem in the “Most Unpopular Subject Matter on TTAC” Sweepstakes is my constant references to rap music. What I perceived to be a wink-and-a-nod to younger readers who enjoy hip-hop was succinctly summed up by one commenter who wrote “It wouldn’t be a Kreindler piece without a [deleted perjorative for white wannabe rappers] reference”. Although I resolved to tone down the “shout-outs”, an recent piece by Bloomberg demonstrates that there is a time and a place for a knowledge of hip-hop music.
Bowing at the LA Auto Show is the Veloster Turbo R-Spec, aimed at pulling in tuner-oriented shoppers through a halo inversion designed to, someday, have them drive away in a Genesis sedan.
A study by Edmunds on the buying habits of millennials shows that 2013 was not a particularly good year for young car buyers. Despite making good headway in 2012, 2013 saw those gains practically eroded, as a weak job market and rising home prices helped stymie any growth in market share for automotive consumers aged 18-34.
“Too Poor To Drive”. This is the gut level conclusion that’s been propagated in “Generation Why” since January, 2012, long before the theory gained currency in the broader automotive world. In the nearly two years since, the “kids aren’t interested in cars because of technology/the environment/urbanization” meme has held up tenaciously – and it’s not entirely false.