Generation Y is known for being a tough market to crack for automakers, but a new study suggests “millennials” are looking to buy or lease a new car within the next three years.
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The instant results offered by blogging posts and accessibility of the web, provides good feedback to automakers, which are using comments generated by social media feeds to influence aspects of vehicle design and engineering, when concepts are revealed.
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In addition, Deloitte’s vice chairman Craig Giffi, says that Gen Y members are also more likely to be drawn to Hybrids than conventional internal combustion propelled cars and trucks, though he believes this is less of a “green” factor and more of an economic one, saving fuel and saving money, versus saving the planet.
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Toyota’s youth-oriented Scion brand had the biggest penetration among Gen Y car buyers, some 21.2 percent, followed by Mitsubishi, Mazda, Nissan, Volkswagen and Kia.
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Generation Y has come of age and are now setting their sights on what new car to buy. And according to research firm AutoPacific, younger car buyers are choosing vehicles made by Toyota, Honda and Ford. Also among the top 5 brands are Chevrolet and Nissan. Making their way onto the 2010 Gen Y (people...
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