Electronic gadget conscious…
These young adults are the subject of a series of discussions and presentations at the CAR Management Briefing Seminars in Traverse City, Michigan. Speakers representing Ford Motor, Lexus, Gfk, SEMA and Tom Tom, shared information after “getting into the heads” of this coveted consumer group.
As John Waraniak, Vice President, of Vehicle Technology, for Specialty Equipment Market Association put it, “They (Gen Y) buy what your stuff does for them.”
Other speakers noted that while Baby Boomers view the vehicles they drive as status symbols, Gen Y prefer tech gadgets, and have a higher emotional attachment to their cars. Gen Y drivers are more engaged with the technology inside their vehicles.
While these findings may come as no surprise, the younger generation will continue to drive the content and design of future cars. But this is the same generation buried in college loans – $1 trillion – so while automakers value the wants and needs of Gen Y, someone is going to have to figure out how Millennials can buy the very cars being built for them.
