Millennials shun patriotic car buys
US study suggests the sun is setting on patriotic purchases.
As Australia prepares to vote in "a referendum on the future of the car industry" next weekend, a US study suggests the sun is setting on patriotic purchases. "Millennials", defined as those aged 16-32, fail to respond to the "Buy American" movement, according to the survey by AutoTrader.com, with just 38 per cent thinking it's important to purchase a car assembled stateside.
The urge is much more pronounced among older buyers, with Gen Xers at 53 per cent and baby boomers 60 per cent. "It's important for domestics not to hang their hats on 'Made in the USA' to the same extent they did in the past," said Isabelle Helms, senior director of research and marketing analytics for AutoTrader.com.
The trend flies in the face of purchase patterns, which show Chevrolet and Ford taking share from Japanese makers among millennial buyers. The problem is millennials aren't loyal. Only 30 per cent say they will repeat-purchase the brand they are driving. And by the end of the decade, millennials will account for 40 per cent of purchases.
The survey echoes trends in Australia, which show brand loyalty declining, but a Newspoll on support for the car industry reported by The Australian offers hope for Holden and Toyota. The 18-34 age group were strongest in favour of government financial assistance, at 58 per cent.
Related content
With so many Chinese brands, is good value enough? Leapmotor C10 targeting...
'We see huge potential': Slow sales in 2024 won't stop this electric car brand...
Popular Chinese SUV moves upmarket: 2025 MG ZS petrol pricing confirmed as new...
New family performance car gets more for less: 2025 Skoda Octavia RS joins...
Comments