Young Drivers Prefer Electric Cars
A new survey finds that most Gen Y consumers (aka “Millennials”) have a high affinity for green, eco-friendly vehicles versus any other type of car. Researchers at Deloitte found 59% of Gen Y respondents preferred alternative power. Hybrid gasoline-electric vehicles won over 57% of respondents, and pure battery electric vehicles got 2% of the vote. Vehicles with a traditional gas-only power train were preferred by only 37%. Fuel efficiency is the biggest appeal. In fact, 49% of Gen Y customers are willing to pay an extra $300 for each mile per gallon of improvement they can get out of a hybrid, according to the survey. Besides fuel efficiency, young drivers want cars packed with technology, like touch screens and smartphone applications. Deloitte forecast 25% of new vehicles sold this year and 40% of cars sold in the next decade are likely to be purchased by a Gen Y’er, comprising about 80 million Americans. For many, it will be their first-ever car purchase and a chance for manufacturers to create repeat loyal customers.
