Edmunds.com recently did some research on the car buying habits of Millennials and as it turns out, they may not be quite the consumers you might imagine them to be. In fact, we all may have a little to learn from them.
Yes, Millennials are very open-minded to new automotive technology. When surveyed, almost 75% said that they would consider an electric vehicle or a hybrid. Well over half said they would consider buying an autonomous vehicle if one ever hit the market.
Eighty percent of those surveyed said that integrating their smartphones with their vehicles was important and 62% said that they would pay more for a vehicle equipped with Wi-Fi.
On the other hand, in what may be a surprising fact, Millennials placed qualities like price, fuel economy, and performance far ahead of technology. And as it turns out, they like used cars too. Last year, almost 80% of vehicles purchased by Millennials were used.
Perhaps Millenials are more frugal than we realized.