Top 10 Used Cars Used By Millenials
Edmunds.com has recently come out with a list detailing the top ten used cars purchased by millennials, and the results are pretty interesting. The analysis investigated what types of used vehicles the target market have previously purchased and continued to purchase since early 2005. The evidence tends to suggest that millennials, individuals aged 18 to 34, are fairly practical when it comes to shopping for new vehicles, often preferring to go the used vehicle route. Within the used car dealerships in Lexington KY sphere, many are choosing out of production models, placing cost, value, reliability, and utility above the newest, in-trend vehicles out in the market.
Edmunds.com has detailed the top ten list of models as follows:
- Volkswagen R32
- Chrysler Dodge Magnum
- Subaru WRX
- Nissan GT-R
- Chrysler Pacifica
- Dodge Durango
- Chevrolet TrailBlazer
- Lexus IS-F
- Pontiac Aztek
- Saturn Outlook
Of the ten listed models, six are no longer being manufactured or are discontinued entirely, but continue to be sought out by the market. The Pontiac Aztek has never been considered an attractive car given its strange appearance and build, and yet it still makes the cut. In fact, it has reappeared on the list every single year since 2010 due to its low cost and affordability.
Other popular vehicles included in the study are the Chrysler Dodge Magnum, which was discontinued in 2008, but maintained 27.6 percent share of sales to millennials, as evidenced by data collected over the first half of this year. The Chrysler Pacificia trailed closely behind at 27.3 percent, then the Chevrolet Trailblazer at 25.9 percent, the Volkswagen R32 at 25.7 percent, Pontiac Aztec at 25.5 percent, and the Saturn Outlook at 25.3 percent, each comprising a significant amount of purchases.
Millennials have not often been considered the most financially savvy group by the media, but when it comes to cars, one thing is clear from the analysis: practicality rules in the used car marketplace for this group. Affordability and low costs have been, and continue to, trump new makes, models, and trends. Ultimately, Millennials are not concerned with what is hot or what is cool, but what is logical and makes sense for their budgets.
Edmunds.com continued on to state that used car purchases comprised of a total of 78 percent of all Millennial car purchases the prior year. Only 68 percent of car buyers above the age of 35 did the same. Traffic to used car pages on Edmunds.com last year by Millennials consisted of 39 percent, and they also contributed to 58 percent of mobile traffic to the pages as well.