What millennials want
Millennials make up 12% of all car buyers in Europe. But what exactly does this hyperconnected, freedom-loving generation look for when choosing a vehicle?
For 40% of current car buyers between 25 and 37, the design is one of the main reasons for purchasing a vehicle, based on internal research carried out by SEAT. Likewise, the findings show that a third of under 30s considers the car to be an expression of their personality and wants it to reflect their individual style.
There is an endless range of possibilities on the market, but this generation has a clear idea: 50% prefer compact models such as the SEAT Leon or Ibiza. In addition, the SUV segment is also a highly popular option for 20% of this group, a percentage that increases with the age of the buyers.
Being the digital generation that it is, prior to deciding on one model or another, millennials carry out extensive research on the internet. According to Enrique Pastor, who is responsible for market research and product strategy at SEAT, said, ‘It takes an average of nine weeks for these buyers to conclude a purchase. As they take the time to get better informed and are relatively less experienced in the purchasing process of a car, they also take longer to make a decision.’
Compared to the past, the way people use their car has changed. According to internal studies, millennials are the first generation that is interested in new forms of mobility. For example, 26% of drivers aged 25 to 37 contemplate sharing their car with other users.