Resonate, the only company that lets marketers act on why people make decisions, has revealed key motivations behind why millennials are buying fewer cars. And, contrary to many of the reasons cited in hundreds of articles and reports, the bottom line is clear – they don’t have enough money to buy vehicles because of the ongoing weak economy.
Delivered this morning by CEO Bryan Gernert at the J.D. Power 2013 Automotive Marketing Roundtable, the new insights show that 10% more millennials are unemployed, while 14% are underemployed compared with the adult online population, making it difficult for them to purchase a car. The research also unearths what millennials value when they do buy vehicles, providing guidance to auto industry marketers on how to best reach them.
Read the full media release here.
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