Implications: The more things change, the more things change. Gen Y could be a transitional cohort for whom vehicle ownership is not to be “taken for granted.” Whether out of environmentalism, economics, both, or “other,” it would appear that an increasing number of Millennial consumers are rethinking whether vehicle ownership is an absolute need, or just a want… which can be satisfied through other means.
- It might be smart for manufacturers to start talking about freedom and flexibility (of time, travel, scheduling, etc.), rather than just horsepower and style. How does this pitch sound coming from a dealership?
- Is there room in the market for a vehicle that is “situational?” (A car that one does not drive everywhere, but which is affordable enough to own even though it might be used only few times per month?)