The next generation of car buyers – millennials and Gen Z – have changed the way we interact with transportation. Typically, they want to avoid taking on debt, are keen to prioritise experiences over possessions and embrace ride-sharing services to meet their mobility needs.
It’s easy to assume that young adults have made a conscious choice to avoid owning a car. But this assumption appears unfounded. It’s clear that young adults, who make up the bulk of first-time car buyers, share the same beliefs that have motivated people to buy cars for generations. Owning a car is the ultimate ticket to freedom, it remains one of the most practical forms of transport, and there’s no greater way to express yourself than with a new set of wheels.
Now that we’re learning to live with COVID, getting back on the road is on the agenda for young adults – whether it’s travel to and from work, or finally taking those post-lockdown road trips.
How can you best support first-car buyers? Young buyers have a keen awareness of value, they know what they want and they expect to have a seamless transaction experience.
Let’s look at what dealerships can do to appeal to the needs and wants of first-time buyers.