Millennials have the most faith in the car industry, study finds
Car buyers aged between 18 and 24 have more trust in the motor industry than older generations, a new study has discovered.
While older customers have more cynicism towards the car industry’s intentions and reliability, Generation Z and Millennial buyers believe that manufacturers and dealers put consumer interests first.
Nearly two in five young people included in the 2020 CarGurus Car Buyer Trust Index, which used responses from 2,183 people and looked at the role trust plays in the car buying experience, think that car manufacturers can be trusted to do the right thing for society.
It contrasts the 27 per cent of Generation X and 15 per cent of baby boomers who thought the same – with 36 per cent of older buyers beyond actively mistrusting the intentions of automotive brands.
Madison Gross, director of consumer insights, said: “The good news for the car industry is that the younger generation, which is crucial to the future of the sector, has a level of trust in car brands.
“The work that manufacturers are doing to move towards electrification and adopt a greener approach to building cars is, doubtless, playing a big part in engendering that trust.
“As these are the car buyers of tomorrow, it’s important that businesses continue to enhance that relationship with Gen Z and Millennial buyers.”