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 is a good one) has a specific approach to men and women, to singles and married people, to buyers with and without kids. Those groups require special sales techniques because they buy cars to solve certain, but different issues.

Married couple in anticipation of kids is looking for spacious, reliable car. Single mom with 2-year-old boy seeks for a car with сhild safety locks and washable interior. A commercial traveller wants to have a car where he can spend a night. Well, you already know all that, right?

But what about generations? Do you divide your buyers in accordance with the time they were born, and the environment they were raised in? If you are not, you are making yourself a disservice.

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. We listed them for you below:

They are clued up

The first thing you need to know about Millennials: many of them they grew up online. Their birthdays were marked with the new gadget or 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 that doesn’t have a website? – I don’t think they are right for me.
  • The website that you can’t use via mobile devices? – Didn’t they hear about a responsive website design?
  • The online showroom that can’t provide me with the comprehensive vehicle grading? – Are they expecting me to buy blindly?
  • I can’t have a live video streaming of the vehicle? – They want me to drive across town?

The most clued up generation (among those who are eligible for driver license) demands car dealers to be clued up as well.

They are taking their time

Millennials are not those who will buy a car next day after the graduation. With the high accessibility of the ride-hailing and ride-sharing services as Uber, they can postpone such contribution. 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 perform “big steps”: buying property (vehicles and houses), getting married, having children, but they will do it eventually.

Once they chose 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 it.

They are highly influenced by Social media

The Social media became the main consultation service for Millennials. Almost all the information they receive from the outside, they compare with the online one. “So, you think it is a good car, huh? What do X blogger says about it? What do Y community writes about it?”

You can’t change it or beat the Social media. This is the way it goes. But you can turn this obstacle into your companion. Implement social media marketing for your car dealership, create a YouTube channel, collect customers’ reviews, manage your reputation. Supply Millennials with what they seek for – online confirmation of your trustability.

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. The Millennials are looking for reliable and environment-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 | 11 views

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