2015 GNYADA MEMBERSHIP DIRECTORY

HOT TOPICS 2015 GNYADA Membership Directory

YES, MILLENNIALS LOVE PHONES, BUT THEY LOVE CARS MORE

With so much current speculation around Millennials and the auto industry, MTV’s new research study “Millennials Have Drive” uncovers an increase in young people’s passion for cars and car ownership, as well as key points of entry for the automobile industry to win over this generation with more targeted car advertising, increased customization options and a more transparent buying process. The findings unearth and debunk the following five major myths about young people and the auto industry: MYTH #1: Millennials don’t drive. Truth: Even among today’s growing transportation options, driving is still Millennials’ go-to mode. 80% of Millennials get around most often by car. MYTH #2: Millennials don’t want to drive, have no interest in getting their license and choose other methods of transportation in order to stay connected. Truth: State laws are holding teens back as they now have driving restrictions placed on them that other generations did not. MYTH #3: Millennials don’t like cars and don’t find them essential. Truth: Young people not only like cars but are passionate about them. • 70%of Millennials enjoy driving • 75% of young people agree “they couldn’t live without their current car” • 60% of Millennials said “they feel like losers among their peers without their cars” MYTH #4: Millennials are forgoing the purchasing of cars and other big ticket items. Truth: With thewarming of the economy andmore youngpeople aging into theworkplace and, subsequently, accumulating more savings, Millennials are looking to buy cars. • 8 in 10 Millennials see cars as the one big ticket item people their age purchase • 3 in 4 Millennials believe they have a lot of purchasing influence • 6 in 10 young people would rather buy than lease a car • 1 in 3 young people plan to buy and/or lease a new car within the next 6 months MYTH #5: Millennials one true love is technology, especially their phones, and cars cannot compete for their attention. Truth: Unlike previous generations - Millennials see both their car and their phone as a necessity to social connection. In fact, 92% agree that having a smart phone does not replace the need for a car Overall, Millennials value their cars and phones for similar reasons of accomplishing tasks, freedom, exploring new places and learning new things. They also agree that both allow for them to interact with friends and family and protects them from the fear of missing out (FOMO).

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