√I’m 21 – here’s what young people actually want in their cars
With so many car brands trying to anticipate the desires of a new generation of car buyers, here’s what the young people of today really need from their vehicles.
Born between 1997 and 2012, Gen Z represents 25 per cent of the world’s population.
This generation holds considerable spending power and will continue to represent a large portion of automotive industry revenue in the near future.
RELATED: Hey parents, don’t buy your kids their first car
If you’re thinking, “There’s no way I’m sharing the road with someone born in 2006,” well, get used to it, because we’re buying our own cars now too.
For most of Gen Z, buying a car is still a novel concept. But when others picture Gen Z’s perfect car, it probably looks like a fully electric, autonomous vehicle with stacks of techy features like virtual assistants and CarPlay. As it turns out, most of those things are at the bottom of the list of priorities.
So when we enter the market, what are today’s young people really looking for in a new car?
Luxury brands
According to a study by CDK Global, Gen Zs are after luxury cars, differing from any generation prior such as Millennials who were lucky to get their older sibling’s Renault Clio or Nissan Micra.
The study indicated 39 per cent of Gen Zs would consider buying a new or used vehicle from a luxury brand as their first car – a much higher proportion than for Millennials (29 per cent), Gen X (27 per cent) and Baby Boomers (12 per cent).
Although we Gen Zs don’t tend to own cars as much, and factors such as the rising cost of living and the ease of using transport services like Uber play a role in this, the reputation of car brands has in no way become irrelevant.
As a generation that spends around three hours daily on social media, automotive brands like Mercedes-Benz, BMW, and Lotus have become viral sensations on platforms like TikTok and Instagram. It might not impact sales right now, but it’s setting these brands up for success when our financial capabilities align with our dreams.
Value for money
This might directly contradict my last point, but bear with me. In my experience, Gen Zs prioritise value for money very highly in their car buying process.
Being part of the generation most affected by the cost of living crisis, it can be tough to justify spending big on a new car.
This doesn’t mean we run to purchase the cheapest car possible, but we are very likely to consider all the options available and then make a well-informed decision based on the value for money with the features offered.
Interior space
Since I’m often the designated driver, I prioritise practicality when choosing a car to buy.
In my experience, Gen Zs prefer for the car-buying process to revolve around features we find personally relevant. For a generation brought up amongst constant social connections, this includes generous passenger and luggage space.
For me, my Toyota 86 primarily accommodates tyres, tools, track driving essentials and the occasional passenger.
However, looking ahead to my next car purchase, prioritising space will hold greater significance in my decision-making process.
Efficiency and EVs
Gen Zs prioritise fuel efficiency and will take steps to leave a smaller carbon footprint, likely attributed to being raised in a generation where environmental awareness makes headlines.
As indicated by a recent study conducted by American consumer insights firm J.D. Power, Gen Zs are recorded as the most likely to consider purchasing an EV, showing a higher year-on-year increase in this sentiment compared to other age groups.
However, due to the high cost of entry, they currently adopt a ‘wait-and-see’ approach and envision purchasing an electric vehicle as their next car, rather than their first purchase.
In-person test drives
It’s a common misconception that younger generations prefer to buy a car online.
Despite spending a vast amount of time online, Gen Z has a harder time purchasing a car online compared to any generation prior.
According to recent data, Gen Zs seek guidance through the process of buying a car, finding online buying more difficult than the traditional in-person method.
This difficulty likely stems from their unfamiliarity in the process as a first-time buyer. To ensure a smooth experience, we prefer relying on an expert to educate us on the car and its features and assist with the paperwork and insurance.
A Gen Z car purchase is, therefore, a well-researched, dynamic blend of value, brand affinity, features and practicality. A cocktail of factors that might mean older generations are in good company on the roads after all.
The post I’m 21 – here’s what young people actually want in their cars appeared first on Drive.
Post a Comment for "√I’m 21 – here’s what young people actually want in their cars"