Top Five Findings
- Millennials are buying cars rather than investing in rental cars: 86 percent of people bought cars, compared to a combined 14 percent who leased or rented a vehicle.
- Millennials are buying more used cars than new: Used car sales under $25,000 make up 66 percent of Millennial car owners.
- Cost, space and environmental efficiency matter the most to both Millennial buyers and renters.
- Trust plays an important role in the car-buying process: Millennials look to both online reviews from other drivers (40 percent of renters, and 45 percent of buyers) and recommendations from friends/family (32 percent of renters and 50 percent of buyers).
- Test drives guide 57 percent of purchasing decisions when buying: 69 percent prefer to have an expert in the vehicle throughout their test drive, while 48 percent want to hear or see content from other who’ve previously bought that car.
Download this report for the full research and ways you can better market to Millennial drivers.