Millennials fuel SUV boom

Tuesday, September 8, 2015

 

The SUV boom is poised to accelerate thanks to millennials who find the segment highly desirable according to a survey.

Those aged 17-34 said SUVs made them feel powerful when they drive, are the kind of vehicle they want to be seen in and are more sporty and fun to drive than other vehicle types according to strategic research consultancy Benenson Strategy Group.

The survey also found that the millennial generation was also more likely to consider it important that a car is perfect for an active lifestyle, with half believing this better describes SUVs than other types of vehicle.

With this age group accounting for 24% of Europe’s adult population, the survey found that one-in-four millennials were considering an SUV purchase in the next year - industry wide, SUV sales in Europe are expected to increase from 20 per cent of total passenger car sales in 2014 to 27 per cent by 2020, according to industry analyst HIS with the.

“The survey makes two important points – the SUV boom in Europe is not a passing fad and young people are not as ambivalent about car ownership as some suggest – especially when it comes to SUVs,” said Roelant de Waard, vice president, marketing, sales and service, Ford of Europe which sponsored the research. “For both rational and emotional reasons, many younger buyers in Europe see SUVs as the perfect choice for them.”

The study also found:

  • 54 per cent of Millennials believe SUVs are better than any other type of car at going anywhere in city or countryside

  • 52 per cent of Millennials believe SUVs are better at keeping them safe than other types of vehicle

  • 84 per cent of Millennials believe SUVs have become more fuel efficient and environmentally friendly over the last five years

  • 52 per cent of Millennials intending to buy an SUV consider them the only type of vehicle that delivers toughness as well as lifestyle, rational and emotional appeal in a single package

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