According to a survey of over 1,000 members of Generation Z, persons of that age bracket 1) prefer cars to trucks or SUVs, 2) look for fuel economy and value before anything else, and 3) seriously consider offerings from Ford before those from any other automaker.
Generation Z – those currently aged 21 or younger – represent the youngest buyers in the market, so it merits keeping in mind their relatively small purchasing power. Chris Travell is Vice President of Strategic Consulting for MaritzCX, the company which conducted the survey. He said of the results: “Making decisions based on fuel economy and value explains why these buyers tend to shop brands like Ford, which builds vehicles that prioritize these attributes.”
Granted, at 8.2 percent of those surveyed, Ford only just surpassed competing automakers like Toyota (7.2 percent) and Chevrolet (6.4 percent). What’s more definitive is Generation Z’s preference for cars over trucks or SUVs. Of those surveyed, compact cars were preferred by 41.1 percent, followed by midsize sedans at 14.7 percent, and subcompacts (like the Ford Fiesta) at 11.6 percent.
While the “Z” generation of buyers represent a relatively small slice of new car buyers today, Ford appreciates what a boost these figures potentially represent; by 2020, Generation Z is anticipated to have a global purchasing power equal to a $3.2 trillion GDP.