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What’s pushing the needle when it comes to more consumers opting for smaller cars?
Monthly GfK Auto Insider
  GfK  

Jeff Campana
Jeff Campana
SVP
GfK Automotive

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Jeff Campana

 

 
 

Interest in small cars has increased for consumers across the board, regardless of age, but they remain the biggest preference of Generation Y.   Combined, Generation Y and Generation X accounted for 63% of new vehicle purchase intenders in 2011.  And these car buyers aren’t just focused on economy and fuel efficiency.  They’re placing a high priority on things like fun-to-drive, safety, technology-enabled and whether the vehicle makes them feel successful.  If manufacturers are going to capture the hearts and wallets of this growing generation of younger consumers, they’ll need to develop vehicles that appeal to their tastes and preferences.

 
 

Gen Y’s have grown to become a greater proportion of new vehicle Intenders; intentions grew from 16% to 24% between 2008 and 2011. Combined with Gen X, they accounted for 63% of Intenders in 2011.

   
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New vehicle intenders 2008 vs. 2011
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Interest in the small car segment has increased steadily for every generation, but remains the domain of Gen Y. When viewed from the perspective of the small car market alone, Gen Y represents the greatest share of intentions in this segment.

     
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Small car segment intentions
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In the small car segment, Gen Y and X differentiate from Baby Boomer generations by placing higher priority on imagery associated with Exciting, Safety, Technology, and Success. These are key areas of focus for brands wanting to be successful with Gen X and Gen Y in the small car market.

     
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Gen X and Gen Y ranked attibute correlations to purchase consideration vs. baby boomer/pre-boomers
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About GfK Automotive

For nearly 30 years, GfK Automotive has been the preeminent provider of product, brand and consumer research and consulting to the global automotive industry. Counting most major Asian, European and North America car makers among its client base, GfK Automotive research consultants deliver integrated information and insights to the automotive community.