2016 GNYADA Membership Directory

YES, MILLENNIALS LOVE PHONES, BUT THEY LOVE CARS MORE

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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

2016 MEMBERSHIP DIRECTORY 51

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