Millennials Skew to Used Cars, Lean Towards EVs
According to the latest research, Millennials decidedly skew toward used cars when they buy.
In fact, used car purchases made up 78 percent of all Millennial car purchases last year, compared to 68 percent of all car purchases by adults 35 and over. And while Millennials accounted for 39 percent of all traffic to used car pages on Edmunds.com last year, they made up 58 percent of mobile traffic to those same pages.
About 72 percent of Millennials also said that they have considered buying a hybrid or electric vehicle, and a forward-thinking 66 percent said that they would consider buying a self-driving vehicle if it hits the market.
Four out of every five Millennials believe it’s important to integrate their smartphone features into their car, and 62 percent said that they would pay more money for a WiFi-connected vehicle.
Conversely, in-car technology is not Millennials’ biggest priority. When asked what car features matter most to them, Millennials ranked technology features such as infotainment and Bluetooth well behind price, fuel economy and performance.
Category: Electric Vehicles
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