Millennials Prefer Practicality Over Luxury In Cars

“New York-based Crowdtap conducted a study examining Millennial vehicle purchasing and driving behavior, exploring preferences between Millennials in both suburban and urban areas. The study’s findings, summarized in a report titled “Millennials Behind the Wheel,” correlate directly to key tactics that can help auto brands connect with Millennial consumers.”

Source: www.mediapost.com

Millennials view cars as a necessity rather than a luxury, according to a study from Crowdtap, to be released Jan. 31.

Millennials in big cities are relying on cars for quicker travel (47.4%), quick trips to the store (43%) and for trips outside of the city (47%). Suburbanites use their vehicles for a mix of commuting, running errands, and weekend travel (65%). More than a quarter (26.7%) use their car mainly for running errands, 15.3% only use their car to commute, and 15% mainly use their car for weekend travel.

New York-based Crowdtap conducted a study examining Millennial vehicle purchasing and driving behavior, exploring preferences between Millennials in both suburban and urban areas. The study’s findings, summarized in a report titled “Millennials Behind the Wheel,” correlate directly to key tactics that can help auto brands connect with Millennial consumers.

The study calls out practicality as the catalyst for Millennial vehicle purchasing decisions and driving behavior. Whether renting or buying, Millennials are seeking a practical choice for either their short- or long-term investments. Cost, space and environmental efficiency matter the most to both Millennial buyers and renters.

With Millennials being a key demographic that auto brands want to reach, it’s vital for marketers to understand what they are looking for in vehicles, as well as what influences their buying…[read the full article at www.mediapost.com]