Gen Z more frustrated with car-buying process than older generations, CDK says

News

Younger car buyers were less likely to recommend the dealership experience and had more frustrations with the car-buying process than older consumers, according to a survey by CDK Global Inc.

The study, released Thursday, surveyed 1,100 recent car buyers in December and analyzed their preferences and frustrations with the car-buying process by various age groups.

The study classified members of Gen Z as car buyers from the ages of 18 to 25, millennials as 25 to 40, Gen X as 40 to 55 and baby boomers as those 56 and over.

CDK said 81 percent of Gen Z members said their biggest priority when purchasing a car was taking their time and exploring all of their options, compared with only 73 percent of millennials, 60 percent of Gen Xers and only 45 percent of baby boomers. The survey also said members of Gen Z had more difficulty purchasing a vehicle online than older generations.

Brendan Dougherty, CDK’s director of product marketing, attributed this trend to 56 percent of Gen Z respondents telling CDK that they were making their first car purchase.

“For most of these consumers, this is their first major purchase, and they come in with some assumptions that they could do more of this thing online than what they really can do, because of the complexity of a car transaction,” Dougherty told Automotive News.

Luxury vehicles were also more popular among Gen Z, according to the survey, with 39 percent of buyers purchasing a luxury car compared with 27 percent of Gen X buyers and 12 percent of baby boomers.

Forty-five percent of Gen Z respondents told CDK they were frustrated by having to wait for a salesperson when going to a dealership.

Gen Z “said that they wanted someone to help them, they wanted to take their time, but they also still valued speed,” Dougherty said.

Products You May Like

Articles You May Like

VW agrees to buy $4 billion worth of lidar components from Israel’s Innoviz
How are NASCAR’s drivers staying sharp away from the racetrack? Hours and hours of video games
EV startup Arrival will delay bus and car project trials to cut costs, report says
Volvo eyes 10% EV share despite big July setback
AAA executive: Most consumers don’t want self-driving vehicles

Leave a Reply

Your email address will not be published.