Gen-Y car buyers, J.D. Power

A new report by J.D. Power and Associates shows a growing number of Gen-Y consumers are buying new vehicles in the United States, a positive sign for dealerships across the country. Bolstered by an improving job market and healthy lease and inventive offers, Gen-Y buyers (26%) have outpaced Gen-X buyers (24%) in share of total vehicle sales. Continuing a longstanding trend, the Baby Boomer generation accounts for the plurality (40%) of domestic sales.

As young car shoppers turn to online resources to make buying decisions – most often seeking out vehicles that balance cost with functionality – dealerships can take advantage of this growing audience by tailoring their sales process and their marketing strategy to be both mobile-friendly and transparent about pricing information.

“Don’t be fooled, this generation is still very much about buying cars, they’re just doing it in ways we aren’t quite as used to,” shared Jack Simmons, Manager of Dealer Training in a recent article. “Millennial shoppers simply care about convenience and transparency, and they use mobile as way to get both.”

Related:  Millennial car shoppers prioritize value, more likely to “showroom” for deals