Zipcar, the leading player in car sharing in North America, is about to be acquired by Avis Budget Group for $500 million in cash. The rental car firm will pay $12.25 per share, a whopping 49 percent premium relative to Zipcar’s closing price on December 31st.
Tag: Generation Y
A hot tip from a few friends in my generational cohort, the ones who don’t drive or have any interest in motoring. They all love this ad for the Dodge Dart and encouraged me to check it out.
Here’s a quick example of Gen Y marketing done right, but this isn’t so much to do with the product.
Nostalgia is so last Millennium says Ford. The new Mustang will ditch retro in an attempt to appeal to Generation Y, the folks that do not want to driver their forebears’ cars or dreams. According to the Wall Street Journal, the new Mustang will retain the shark-nosed grille and round headlights, but will “look more like the new Ford Fusion than the current Mustang.”
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…)