How Do Millennials Buy Cars?

How Do Millennials Buy Cars?

We are all humans, but the ways we think, act, and express ourselves differ significantly. Moreover, we buy stuff differently.

Every car dealer (if he/she is a good one) has a specific approach to men and women, to singles and married people, to buyers with and without kids. These groups require unique sales techniques because they buy cars to solve certain, but different issues.

A married couple in anticipation of kids is looking for a spacious, reliable car. A single mom with a 2-year-old boy looks for a car with сhild safety locks and an easy-to-clean interior. A commercial traveller wants to have a vehicle where he can spend the night. Well, you already know all that, right?

But what about generations? Do you categorize your buyers according to the time they were born, and the environment they were raised in? If you are not, you may be shooting yourself in a foot.

Who are Millennials?

Millennials are the United States’ largest living generation. They outnumbered Baby Boomers in 2015, and by date approximately 80 million or one quarter of the US population are Millennials. It is the generation that was born between 1982 and 1996, today they’re 21 to 36 years old. And they are buying vehicles.

To sell them cars you have to meet their requirements and expectations. To do so, you need to know what their shopping habits are like. We have listed them for you below:

They are well-informed

The first thing you need to know about Millennials: many of them grew up online. Their birthdays were celebrated with a new gadget or new software releases. They are so used to high-tech, they are taking it for granted, and won’t settle for something that is not convenient for them as consumers:

  • The dealership doesn’t have a website? – I don’t think they are right for me.
  • The website can’t be used via mobile devices? – Didn’t they hear about a responsive website design?
  • The online showroom can’t provide me with any comprehensive vehicle grading? – Are they expecting me to buy blindly?
  • I can’t have any live video streaming of the vehicle? – They want me to drive across town?

The most tech-savvy generation (among those who are eligible for a driver’s license) demands tht car dealers be up-to-date as well.

They are taking their time

Millennials are not that type who will buy a car the next day after their graduation. With the high accessibility of carpooling and transportation services such as Uber, they can postpone such a purchase. Still, don’t rush to considering them a lost deal. According to Ypulse’s survey, 52% of US Millennials say they plan to buy a car in the next one to five years. So, you have 41.6 million buyers ahead of you.

Unlike the previous generation – Gen X, Millennials wait longer to take “big steps”: buying property (vehicles and houses), getting married, having children, but they will do it eventually.

Once they choose to buy a car, Millennials also take their time deciding – 16.9 weeks on average. Why are they taking so long? The answer is: they search for you online. The next paragraph explains.

They are highly influenced by Social media

Social media has become the main consultation service for Millennials. Almost all the information they receive from the outside, they compare with online sources. “So, you think it is a good car, huh? What does X blogger say about it? What does Y community write about it?”

You can’t change it or remove Social media. This is the new reality. But you can turn this obstacle into your companion. Implement social media marketing for your car dealership, create a YouTube channel, collect customers’ reviews, and manage your reputation. Provide Millennials with what they are looking for – online confirmation of your trustworthiness.

They buy vehicles for comfort, not for boasting

Maybe some young adults still consider a vehicle as a way to show off, but most of them don’t. Millennials are looking for reliable and environmentally-friendly vehicles.

Takeaway

What do women want? The eternal question of men. What do customers want? The eternal question of sales people. You don’t need to read their minds as Mel Gibson did to crack this mystery. Just follow the requirements and expectations they have, and you will hear them saying: this dealer gets me. If you have any difficulties with catering to Millennials, Autoxloo is always ready to help.

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Posted: April 13, 2018 at 8:00 am | 140 views

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