If Generation Z-ers aren’t on your mind yet, they will be. By 2020 they are expected to make up 25-percent of the Nations population. And that means what cars are most popular are about to change.
Currently subcompact cars are what many young people are buying. But the Gen-Z and Millenials U.S. sales of subcompact SUV’s are expected to beat the sales of subcompact cars as early as 2019.
And according to a press release by Ford, Generation Z drivers, those born in 1996 and beyond, find that subcompact SUV’s are the affordable first-car option
For instance in 2017 nearly 3 thousand 18-24 year olds in the U.S. bought a subcompact SUV. That’s up more than 5-hundred percent in just four years.
Why does that matter? Well according to one study by KBB and Autotrader, although Gen Z-ers come across as a ridesharing-only generation, 90 percent say they already own, or plan to own a own car in the future. On top of that, to own that car they will give up social media, buying new clothes, events and eating out for a year, and one third would give up their cell phone completely.
So what are the most important aspects of the car for Gen Z? First are price and gas mileage, then comes style and safety, and the very last thing Gen Z thinks about when buy a car is the brand.
Merkle, a Ford U.S. Sales analyst believes everybody wants SUV’s and Gen Z is no different saying quote, “As more new small SUV’s like Ford Ecosport become available, you’ll see the subcompact SUV segment continue to climb…”
Generation Z is the first fully connected on-demand generation. Because of that these subcompact SUV’s will have everything Gen-Z buyers want in a car like in-vehicle wifi, multiple charging ports, and a smartphone connected info-tainment system.
What have you noticed about Gen Z car buyers?