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GenY Buyers Want Value and Image in Their Vehicle Purchase

Generation Y is the cohort of the population between 18 and 28 years of age. There is still half of the GenY generation cohort that has not yet reached driving age, but are strating to lust after their first car or truck. Because youth is sexy and desirable, automakers and their advertising companies concentrate great effort at attracting younger buyers to their brands. It is critically important Are Generation Y new vehicle buyers really different from the older generations? AutoPacific’s annual Generation Y Consultancy shows that Generation Y – the youngest vehicle buyers in the market – are very different when vehicle selection reasons are considered. The following chart shows how some key vehicle selection reasons stack up when Generation Y is compared to older generations:

Gen Y Slide 1 - blog.jpg

The above data ring true for every vehicle segment. Basically, GenY buyers want a high value, high image vehicle that will last a long time.


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Toyota to Overtake GM as Top Carmaker

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An article in the Saturday, November 19, 2005 Wall Street Journal projects that Toyota may overtake General Motors as the highest selling carmaker in 2006.
While Toyota (Toyota, Lexus, Scion) may not sell more than GM (Chevrolet, Pontiac, GMC, Buick, Cadillac, Hummer, Saturn, Saab) in the United States, it may sell more worldwide. Toyota is concentrating much of its sales expansion in North America where it is pulling sales from General Motors and Ford. GM is bolstering production capacity in China and South America where it sees room for growth where Toyota is not yet strong.
The Wall Street Journal article is one of many recent media reports confirming the results of VehicleVoice research and forecasts by AutoPacific. VehicleVoice research shows a continuing deterioration in General Motors’ (and Ford and Chrysler traditional brands) market share in the United States under the concentrated onslaught of the Japanese Big Three. AutoPacific’s forecast of United States sales shows Toyota, Honda and Nissan increasing market share by adding new assembly capacity and models.


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