Based on autoTRADER’s research study from this year, we’ve seen that millennials, unsurprisingly, shop differently than other demographics — this also applies to cars. Millennials do more online research and rely on their digital savviness to figure out the process. They rely less on the dealership experience and watch more videos and do more online research in the process.
How will this change the auto industry in the future?
Canadians in general start out with limited knowledge on how to buy a car. Millennials start out the least confident but increase the most confidence due to their digital savvy and ability to navigate online sources.
The #1 reason that most Canadians buy a vehicle that is new to them is to upgrade and older vehicle. For millennials, that is not the case. Millennials are triggered to make a car purchase when they have a milestone in their life like getting married, getting a new job, having a baby etc.
For more data and insights please reach out to our autoTRADER Media team.