by Marketing Charts
Overall, US adults tend to be loyal to auto manufacturers they have purchased from before. This is particularly true if customers have had a good customer experience with an auto brand. However, data from Morning Consult indicates that Millennials are much more open to trying new brands and models.
Some 4 in 10 (41% of) the 2,200 US adults surveyed consider vehicle brand to be a top priority when they consider purchasing their next vehicle. And, of those respondents who are intending to purchase a vehicle in the next 12 months, the largest share is planning to stick with the car brand they are familiar with — a little more than half (52%) are thinking of buying from the same manufacturer they have purchased from in the past. Only one-quarter report that they are thinking of buying from a manufacturer that is new to them.
Older consumers tend to remain loyal to vehicle brands they have purchased from in the past, with only 14% of Gen Xers and 10% of Baby Boomers who plan to purchase a vehicle in the next 12 months thinking about buying a vehicle from a manufacturer that is new to them, Millennials appear to be considerably more open to trying a new vehicle brand, however. More than one-third (36%) say they are thinking of buying from a new manufacturer.
The gap in age groups can also be seen when looking at the model of automobile respondents intend to purchase. About 7 in 10 (69% of) Baby Boomer auto intenders are thinking of buying a traditional manufacturer model, and fewer than 1 in 10 (8%) are thinking about buying new model choices. By comparison, only 4 in 10 Millennial auto intenders are considering buying a traditional manufacturer model, with more (43%) considering a model that is new to them.
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