Thanks to the corona virus, we may see more younger car buyers than ever before.
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Historically, younger generations were somewhat less inclined to buy a car and take ownership of it than older generations. Public transportation and the advent of Carpool helped shape her thoughts, but it seems that Corona virus The pandemic makes the age group think.
According to a new study by Capgemini, which examines the population in the world’s major countries, people under the age of 35 are now seriously considering buying a car. The rethink comes from the fact that they correlate health and safety risks in connection with common means of transport such as Uber, Lyft or even a local bus network. A whopping 75% of those questioned said that buying their own car gives them better control over hygiene.
79% of 25-35 year olds haven’t owned a vehicle in the past, but 45% of under 35 year olds are now keen to dive into the numbers (remember that this is a global picture that the US, Europe and Asia includes) own one. Of the 18- to 24-year-olds who own a car, 30% plan to make their vehicle the main form of transportation to replace public transportation and carpooling. A large proportion, 44%, stated that they wanted to restrict the use of ridesharing for health reasons. For all ages, 46% plan to use their cars more often and think less about taking a bus, train, or subway. Continuing the hygiene trend, a whopping 59% said they paid a premium for functions such as germ filters.
For some U.S.-specific data, 45% of those under the age of 35 are now interested in buying a car (compared to 34% of all age groups in the U.S.), and unlike previous studies, the pandemic does appear to be changing the buying model. While old dates showed young buyers still preferred the dealer experienceThis latest study shows that 49% of potential car buyers under 35 want to avoid dealership visits to shop deals. Worldwide, the number is 46%, compared to 39% before COVID-19 Disease started to circulate. We have already seen how automakers put pressure on them Home delivery options on a large scale.
This mood change could represent a huge opportunity for automakers as younger buyers get into the showrooms at higher rates. However, the study shows that there are still hurdles. Younger buyers who are not on the market have underlined this because they cannot afford a new vehicle at current prices. If they could, 57% of 18 to 24 year olds would say they would buy a new car, and 51% of 25 to 35 year olds would say the same thing. Here it is an economic factor.
We won’t know the ongoing impact of the pandemic on the auto industry – and society as a whole – for some time, but early data already seems to show that we are on a completely different path than previously thought. It looks like good news for automakers and maybe harder days for carpooling.
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