Engagement and innovation company Different Spin, with a bit of help from Reevoo, surveyed 32,000 millennials about their car use and how they see cars fitting into their lives now and in the future.
The report tackles issues such as the fall of car ownership, the rise of car sharing and rental clubs, the need for innovation in the industry and the key concerns for prospective millennial car buyers. Find it here.
The results were surprising – but also reflected what we’ve been saying all along. Here are the seven top takeaways from the report.
1. Forget the threshold
Learning to drive and owning a car is less of a rite of passage for many millennials. They also favour financial freedom over the freedom that comes from driving.
2. No house, no car
Owning a car is no longer a key aspiration; people are more concerned by owning the latest iPhone or going travelling. The Netflix and Spotify generation are comfortable sharing or subscribing to driving options.
3. In with the new
Innovation and long-term success were inseparable. Uber, Tesla, Google, BMW, Apple and Toyota were among the brands they rated.
4. Road trips are over
Since 1997, the average number of car trips made by drivers aged 17 to 29 has fallen by 42%. And since then the number of car owners has fallen from 42% to 36%.
5. Going through the motions
Millennials were apologetic when it came to confessing that they drove stating that they usually drive from need rather than desire. The top reasons for doing so were: transporting large or heavy objects, carrying lots of passengers or traveling to different places for their job.
Cost, fuel efficiency and reliability are the most important considerations for millennials buying cars.
Most millennials find it difficult to imagine driverless cars within the next decade. But most wouldn’t consider riding in a driverless car unless they could switch it over to automatic within seconds.
And, fittingly, for this week, keep an eye out for the hashtag #RoadSafetyWeek.
How many drivers think people in the UK use their cars too much? On Monday, we'll tell you. #RoadSafetyWeek #teaser https://t.co/GdcRyT270I
— Brake (@Brakecharity) November 19, 2015
So how can automotive manufacturers adapt to the changing buying behaviours of the younger generations? Read the report to find out.