Millennials are more in love with their cars that you think, according to a recent study by MTV.
The automotive study, released during a press conference at the 2015 National Automobile Dealers Association (NADA) Convention & Expo held in San Francisco, Calif., set out to debunk the driving myths and buying habits surrounding the demographic that falls between ages 18-34.
The study, which surveyed 3,600 millennials across three different markets, found 80 per cent of the millennials questioned use their vehicles as their primary modes of transportation, preferring driving to taking public transportation, walking, biking and even car pooling.
Although the main perception is that millennials care more about their smart phones and social media than their cars, MTV said the results of its study found that three in four millennials would rather give up social media for a day than their cars. What’s more, 72 per cent would rather give up texting for a week than their vehicles.
After watching millennials interact with dealers and salespeople, MTV believes auto dealers can strengthen their relationships with this hyper-connected generation by empowering them through the buying process, by being open, honest and transparent in lingo and price — given millennials are armed with knowledge as soon as they walk in to a dealership and may even continue their research while there.
MTV said millennials are also looking for more speed and support during the F&I process, which they feel could be improved by not leaving them alone during the transaction and by emailing in their paperwork before the sale goes through.
What’s unique to this generation, said MTV, is millennials like to celebrate a good deal — which they will often share with their social media followers. MTV recommends dealers help millennials celebrate the purchase of their vehicles to mark the significant milestone.
Without adapting to their specifications, MTV said millennials will disrupt the auto industry — just as they have done to the film industry.
