Despite there being concerns younger people aren’t interested in becoming car owners, UK research has found the contrary.
Auto Trader has conducted its annual Buying Report and found nearly 50% of 17-24 year olds are open to buying a new or used car, a percentage significantly higher than any other age group.
The next closest age group open to considering a car purchase were 25-35 year olds.
While it appears it’s the younger generation that is also the least likely to shop around, 48% of the younger consumers reported that they intend to buy a car on their first visit to a dealership.
Nick King, Auto Trader Insight Director, said the key message to the car industry from this year’s research is that young car buyers require a different approach from car sales yards.
“Of all the age groups, Millennials are more likely to say they find the car buying process boring, confusing and complicated, and least likely to say they find it exciting, fun and interesting.
“So there are opportunities for retailers to win here by blending the on and offline retail experience into one seamless process that is enjoyable, quick and easy.
“17-24 year olds is your future audience and not one to be ignored as this generation is used to next-day delivery, and getting everything they want immediately.”