GFK Monthly Product Review’s and Auto Insider
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 the 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. 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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