Analysis

Automotive trends and millennials

Generational findings from the global automotive consumer study

Forces are changing the mobility landscape and affording consumers more choices than ever before in meeting their transportation needs. For automotive companies, these shifting consumer demands result in a number of complex questions that may ultimately impact their products and how they engage their customers.

Global automotive consumer trends

Deloitte’s Automotive practice has been studying automotive consumer trends since 2009. For our latest study—the sixth—we have transformed the research into a series of smaller global surveys, each themed to explore a different facet of how people choose to get around is changing. Under the newly transformed approach, we are exploring how consumers feel about vehicle technologies and their willingness to pay for those features, the drivers that influence their mobility choices and whether they ride or drive, and the things that matter most when trying to attract consumers in today’s increasingly digital world. Our new platform is designed to deliver an ongoing stream on consumer data and insights. Be sure to check back often for trends from the latest automotive consumer study.

Key findings | US perspective — 2014 global automotive consumer study

  • Millennial/Generation Y market potential: Over three-quarters of millennials consumers plan to purchase or lease a vehicle within the next five years.
  • Vehicle loyalty: 64 percent of millennials consumers love their cars, but are 3x more likely to abandon their vehicles if costs increase.
  • Alternative powertrains: More than half of millennials would prefer to be driving an alternative powertrain five years from now.

Download the 2014 Automotive Consumer Study to learn more.

Download the 2014 global automotive consumer study

Latest results: Ninety percent of consumers in France rarely use car-hailing services

Early results from Deloitte’s latest Global Automotive Consumer Study of consumers in France reveals that 90 percent of them never or rarely use car-hailing services. When it comes to preferred in-vehicle technologies, French consumers chose safety over connectivity, yet most are unwilling to pay extra for any technology features. And what about autonomous features? Interest among French consumers declines as the level of autonomous features increase. Be sure to check back often as we continue to release findings from our new three-module study—exploring how consumers worldwide are choosing how they get from one place to another.

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Automotive trends and Millennials

Studies show millennials are a large and powerful consumer segment more willing than prior generations to forego vehicle ownership. Automobile manufacturers should be aware of the opportunities and challenges ahead as millennials begin to decide whether or not to own a vehicle.

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