Auto sales continue to climb, rising almost 10% from a
year prior. But one metric in particular caught our eye here at
the Dashboard: Generation Y buyers exceeded Generation X buyers for
the first time...ever. Specifically, for the first half of 2014,
Generation Y bought 26% of all new vehicles, compared to 24% of
Generation X. (Don't worry Baby Boomers, you still lead at
38%.)
What does this mean for the industry? It is getting younger.
Everyone will assume that these younger buyers want the best
technology in their cars. Others note that these younger buyers are
fixated on price. Considering the rise of student loan
debt, this should not be a big surprise.
But how will the industry respond? Will we see ever more
technology jammed into cars? Will we see more cars at lower price
points? Will dealers change their sales
pitch? Will OEM's allow more, easier customization? Will
there be more leasing? Will the rise of car sharing
negatively impact sales?
