Photo: SEAT
Millennials are people born between the early 1980s and the mid-1990s. That makes them the generation that helped make the transition from the pre-connected world to the nearly limitless one we live in today.
For a carmaker, this group means buyers now in their financial prime, capable of deciding to buy a new car on their own. The perfect group for a study about car purchasing habits.
This week, Spanish automaker SEAT released details of new research into the hows and whys of millennials, who represent 12 percent of all car buyers in Europe, purchasing a car.
As per the study, for about 40 percent of group the main criteria for choosing one car over another is the way it looks. That’s because most of them consider the car an expression of their personality, SEAT says.
When looking for a nicely-drawn car, millennials do so mostly in the compact segment. 50 percent of them like this type of cars more than others, while only 20 percent would opt for an SUV.
The buying habits of millennials are also interesting to look at. SEAT says only one in five can afford to buy a car with their own savings, meaning the rest would loan the money from various sources.
Probably because of this, these people are likely to spend an increased amount of time gathering the required information from manufacturers’ web pages and specialized reports before making a decision. Nine weeks, says SEAT, is how long it takes a millennial to make up his mind.
But even before making a purchase, these people ask for one final piece of advice, usually from their inner circle.
Having helped the world transition from landlines to smartphones, millennials are also in the front lines to embrace this new strange concept called mobility (car sharing, ride hailing and so on): 26% of drivers aged 25 to 37 think of sharing their car with other users.
You can read the entire SEAT conclusions in the press release attached below.
This week, Spanish automaker SEAT released details of new research into the hows and whys of millennials, who represent 12 percent of all car buyers in Europe, purchasing a car.
As per the study, for about 40 percent of group the main criteria for choosing one car over another is the way it looks. That’s because most of them consider the car an expression of their personality, SEAT says.
When looking for a nicely-drawn car, millennials do so mostly in the compact segment. 50 percent of them like this type of cars more than others, while only 20 percent would opt for an SUV.
The buying habits of millennials are also interesting to look at. SEAT says only one in five can afford to buy a car with their own savings, meaning the rest would loan the money from various sources.
Probably because of this, these people are likely to spend an increased amount of time gathering the required information from manufacturers’ web pages and specialized reports before making a decision. Nine weeks, says SEAT, is how long it takes a millennial to make up his mind.
But even before making a purchase, these people ask for one final piece of advice, usually from their inner circle.
Having helped the world transition from landlines to smartphones, millennials are also in the front lines to embrace this new strange concept called mobility (car sharing, ride hailing and so on): 26% of drivers aged 25 to 37 think of sharing their car with other users.
You can read the entire SEAT conclusions in the press release attached below.
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