Archive for February 2nd, 2010

02
Feb
10

Gen Y Likely to Purchase a Used Car

Out of the 75 million American between the ages of 18 and 30 years old (Genertaion Y) most of them are more likely to buy a used car over a new car. The Deloitte survey says that about 63 percent of Generation Y respondents feel that used cars are a better value than new cars and Gen Y is more than three times as likely to buy a used vehicle over a new one.

These findings could be a result to the economical impact on Generation Y, less jobs and less income, means that they are looking for more affordable vehicles. The impact that Generation Y has on the automotive industry could reshape the buying process. So if more people are buying used cars that is going to decrease the demand for new cars. This could in turn make car dealers drop the price for entry level vehicles.

To read more about the study, please click here.