Boomers Are Buying
New report from J.D. Power and AARP shows baby boomers bought nearly two-thirds of new cars in 2011.
The question is, why aren't more automakers targeting older buyers? According to the study, buyers age 18 to 34 comprised 24 percent of the new-car sales market in 2001. That number dwindled to 13 percent in 2011. Yet that demographic gets the most love from advertisers.
Millennials, in the meantime, are not as interested in cars -- new or old -- as the generations that preceded them. General Motors, which did a study of Millennials' car-buying interests, is hoping it's only a matter of time before younger drivers start making purchases. The study showed that most young people consider buying their first car to be a milestone in adulthood -- but they're delaying all such major life events.
Can't speak for other Boomers, but I'm at the age where buying a new car, may mean it is my last car. Buying it before I'm reduced to retirement income allows me to pay for it and not have a concern over that expense when I can't afford it as a retired person.
While I'm just slightly older than the official definition of "Baby Boomer", I've wondered for years where are the nice vehicles targeted for my age group?
Or is it assumed by the manufacturers that all people my age are sufficiently wealthy to be able to afford vehicles priced over $40,000?
Here's a news flash for them. Some of us aren't!
Why are the US manufactures ignoring us. My wife and I are both 58 and want a new fuel efficient AWD vehicle. But nobody in the US will make them with Power Seats on both passenger and driver side. We liked the new Ford Escape, but we will not purchase because of the above mentioned design flaw. Right now we have narrowed it down to Audi Q5 or Volvo XC60.
After many years of working my wife has problems with her hands. The power passenger seat would make her life much more comfortable.
adding that boomers have a 21 percent higher median household income than Millennials (the under-30 generation).
It's a big gamble for car companies because after the boomers die off and can't drive anymore then they need to stop focusing on the boomers and start looking ahead or they will lose out on the next two generations.
EXPLORE NEW CARS
MORE ON MSN AUTOS
ABOUT EXHAUST NOTES
Cars are cool, and here at MSN Autos we love everything about them, but we also know they're more than simply speed and style: a car is an essential tool, a much-needed accessory to help you get through your day-to-day life. What you drive is also one of the most important investments you can make, so we'll help you navigate your way through the car buying and ownership experiences. We strive to be your daily destination for news, notes, tips and tricks from across the automotive world. So whether it's through original content from our world-class journalists or the latest buzz from the far corners of the Web, Exhaust Notes helps you make sense of your automotive world.
Have a story idea? Tip us off at email@example.com.