The automotive research firm AutoPacific recently published a study on what Gen Y looks for when buying a new car.
The study found that Gen Y is:
1. “more likely than the generations before them to consider purchasing a Chinese or Indian branded vehicle”
2. “more willing to accept hybrid powertrains”
3. “more likely to want the latest entertainment technology in their vehicle”
I think that it is particularly important to note that Gen Y has become almost completely indifferent as to the source of products that we consume.
Whereas the Baby Boomers are fully willing to buy their electronics from China, but often balk at making big ticket purchases like cars from developing countries, Gen Y is willing to buy anything from anywhere in the world. We have the mentality that says: “If everything else we use is made in Asia, why shouldn’t we own a Chinese car?
The bottom line is that as a group, Gen Y doesn’t really care what the brand is or where the good comes from as long as we end up with a high-quality product at a low price.
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