AutoTrader published a survey where they show the preferences of car buyers who belong to the 'Generation Y' (those born between 1978 and 2000) and who are inclined to buy models of Toyota, Honda, Ford and Chevrolet. While last year, Hyundai and Kia, replaced to Mazda and Jeep in positions 6 and 8, these cars will be the favorites of the 'Generation Y' in the future.
Asian brands Are The Leaders
Under the title "The Generation Y Opportunity", a research conducted by AutoPacific between 42,000 car buyers in the United States, revealed that in many ways, Generation Y is following the footsteps of their parents who were the famous Baby Boomers.
These new buyers are more focused on staying connected in regard to cars and the transportation itself so that their unique needs will undoubtedly affect the auto industry's future.
The fact that brands such as Hyundai and KIA have increased in popularity means that these manufacturers are doing something right to win the attention of that segment.
According to the information, while the Generation Y is maturing, they will want more power and seek for more historically reliable brands such as Honda, Toyota, BMW and Ford.
As for brands that might consider for the next purchase, Honda topped the list followed by Toyota, BMW, Ford and Nissan, while Hyundai fell to number 20 and Kia to the position 25, behind Audi, Dodge, and Volvo.
AutoPacific reported that Buick, the favorite auto brand of "Baby Boomers", could become an alternative to the Generation Y, as they had an astonishing leap, going from position 39 to 28 in one year.
The Generation Y covers a consumer segment that includes high school students, college, new graduates, young couples, and families, but as they mature, their penetration in the new market will be essential to create the cars of the coming years.
VIDEO KIA SOUL 2010 — Generation Y loves the new Kia Soul crossover.