Although Gen Y youth see car ownership as less important for mobility than previous generations, they do like affordable, technology-enabled cars and especially like hybrid electric cars.
- 56% of Gen Y want technology that entertains them while they are driving
- 57% wish it were easier to customize a vehicle’s technology after purchase or lease.
- Over 50% of Gen Y customers would like to connect their smartphone to use all its applications from the vehicle’s dashboard interface.
- 72% of Gen Y consumers want technology that detects the presence of other vehicles on the road.
- 63 percent want technology that lets them know when they have exceeded the speed limit.
Respondents in the study noted:61 % of Gen Y expect to buy or lease a car within the next three years
- 23 % of Gen Y customers expect buy or lease in a year.
- 8% don’t ever expect to purchase or lease a vehicle.
- 29 % of Gen Y consumers would be willing to give up their personal cars, even as non-traditional mobility options like car-sharing and car-pooling services proliferate.
Gen Y consumer were born between 1977 and 1994.