French youngsters are buying new cars again
According to data from AAA Data, French young drivers aged between 18 and 30 have started buying new cars giving the market a 4% growth. For some, it’s the proof of a better communication from car manufacturers and for other this slight increase has to be put in perspective compared to the rest of the market.
Mobility is currently undergoing an important transformation, with the event of carpooling, shared cars and public transport. Some experts think that the young generation wouldn’t be interested in any kind of car ownership.
Yet, according to data from an AAA Data study, acquired by French newspaper La Tribune, French young drivers aged from 18 to 30 are buying new cars, giving the market a 4% growth. Compared to their parents (+2%), it’s twice the evolution for the same period. It is quite the surprise in a market where the average age is supposedly around 50.
Carmakers’ efforts are paying off
“This study proves that efforts made by car makers to establish a new relationship with the youngsters are starting to pay off”, explains the automotive industry specialist and associate to Deloitte cabinet Guillaume Crunelle,.
“It is founded on the digitalization of the commercial relationship that allows them to connect with clients that they weren’t able to get to before. They also created products that answer to today’s needs and, finally, their competitive financing offers contribute to their success”.
Therefore, the emergence of more connected cars, shorter product life cycles and numerous marketing tricks such as personalization allow car makers to reposition the cars in the youth’s life project.
Internet website configurators
Today, car manufacturers’ internet websites are delivering more than ever. They are more intuitive and with their configurators, the future buyers come to the dealership knowing exactly what to buy.
Finally, new financing methods allow young drivers to buy a car more easily than before. According to the study, the 18-30 year-old finance their purchase at 56% whereas the next generation tends to finance it at 70%.
Decreasing automotive ownership
For the Deloitte consultant, this data has also to be put in perspective, because it only represents a tiny part of the market. With 51.130 registrations in France, the youth market is not much compared to the 690.000 registrations for older generations.
“I think we don’t have enough insight yet on this data. We will need to see if the tendency is still there in a few years”, explains Guillaume Crunelle, “One thing’s for certain: there is a social, economical and generational evolution that will lead to a decrease in the automotive ownership in urban areas”.
The specialist also notes that the number of driving licence tests has been decreasing in the US for some years and that it is the consequence of a lesser interest in cars. “Time will tell us if France will be the exception”, he ends.