Millennials Will Lead Car Ownership Boom In Next 6 Months: Survey

Millennials Will Lead Car Ownership Boom In Next 6 Months: Survey

24-39 years-old people (millennials) will be leaders in car purchasing worldwide in the coming six months. They represent 45 percent of all first-time car owners, according to the latest survey.

The 2020 EY Mobility Consumer Index has surveyed more than 3,300 consumers across 9 countries.

31 percent of respondents, which currently have no car, say they will purchase one in the next 6 months. 45 percent of them are millennials.

1 in 5 owners of a vehicle say they want to buy one more car. The COVID-19 pandemic has induced to purchase, according to the survey.

78 percent intend to use their cars to travel in a post-pandemic world. 52 percent of that figure are 24-39 year old men.

In the structure of demand among non-vehicle owners seeking for a new car, gasoline and diesel models take 71 percent, while ‘green’ cars can boast just 6 percent (all-electric) and 23 percent (hybrids).

Public transport usage tends to dramatically drop: by 69 percent for work, 61 percent for leisure and entertainment, and by 53 percent for household and social travel.  

Respondents from Italy (47 percent) and Germany (46 percent) are more likely to purchase a new car, from China (90 percent) – to increase their car usage, followed by India (85 percent) and Germany (81 percent).

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