Ford’s already brought the axe down on all but one of its car models, and General Motors looks ready to do the same. Other automakers, however, know that ditching sedans would mean abandoning key groups of customers.
For Toyota and Honda, models like the Camry and Civic resonate far more among some demographics, and leaving that segment risks losing those buyers to other brands. Not everyone wants a crossover. Among Asians, Hispanics, and African-Americans, four Japanese nameplates keep popping up at the top of the most-bought list, but one domestic model poses a growing threat.
Acura is turning 30, and to celebrate, it’s turning its attention away from the yuppy Gen-Xers who first discovered the brand to the hopeful, car-buying Millennials of today.
It’s not pandering for vehicle sales, it’s a relationship, see?
Honda’s luxury marque just launched a marketing campaign that seems perfectly designed to lure in the largest-growing segment of car buyers. Called “30 Years Young,” the ad plays up Acura’s status as the leading luxury brand of this age demographic, while stroking the ego of the Millennial buyer.
Nielsen, who are better known for its television ratings system than much else, recently published a report narrowing down who exactly goes for connected-vehicle technology the most.
Short answer: Men 55 and over, college degree in one hand, $100,000 in the other.
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.