Hi brandon hardison, spokesperson for shop, smart autos and president of champion strategies giving you the consumer all the things you need to have a better car buying experience.
So what we want to do to concentrate today is something that has always been out there, especially over the last two to four years, and it’s the word millennial, so manufacturers dealerships everyone in this retail vertical are looking at millennials.
So we’re going to talk about dealerships.
Also manufacturers trying to attract these people in this millennial bracket, so the landscape, if we look at the automotive industry, is shifting recently.
As you do know, gm invested 500 million dollars in lift volkswagen invested 300 million in get toyota invested, an undisclosed amount in uber and get around apple invested a billion dollars in dai chi tong uber’s biggest rival in china.
Tesla has announced plans for a fully autonomous ride-sharing service called the tesla network and hyundai is targeting millennials with a new subscription program that will make car ownership as easy as owning the phone.
So with so much growth surrounding this ride, handling and ride sharing services.
One might think the future of the car buying is bleak but think again, less than eight percent of the millennials say that they decided to use ride, handling services to avoid or postpone the car purchase.
52 percent of the 18 to 33 year old bracket says that they plan to buy a vehicle in the next one to five years.
So millennials are just waiting longer to purchase a vehicle now, just like they’re waiting longer to get married to buy a home or have children.
It’s important that dealers, automakers and marketers completely understand who the next generation of the car buyers are since millennials are positioned to become the dominant buying group, a new generation of car buyers, all together a half of a millennial car shopping experience is open to any brand Millennials won’t buy for status groups or brand loyalty, they view things a little bit different when it comes to practical matters.
More than half of millennials said that they would buy an autonomous vehicle with almost 75 percent saying that they would be comfortable having artificial intelligence in their vehicle systems.
54 of millennials men agree that they’re equal to women and even better at car shopping compared to 48 of the baby boomers.
Now i can go on and on with, the statistics at that time has coveted interrupted some of this.
Yes, but the next generation is here to stay.
The millennials are the controlling party, whether it be for politics, whether it be for competing in the work space and when it comes to the economy, whether we baby boomers like it or not, they are in control.
So what does that mean change and, as we’ve talked about many times before, change is the most difficult thing that we human beings we members of a corporation, we members of any social order, have to deal with changing, giving up some power or moving out the way.
So the next generation can operate and stand in place in history.
The way they should be we’ve had our turn.
Now it’s their turn next time, we’re going to look at part two of the strategy of millennials.
How do we make their car buying experience the best? It’s been for you and for your grandparents and great grandparents, once again, brian hardison, spokesperson for shop, smart, auto exam president of champion strategies, as always in parting.
You go out and make it a champion.
