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Generation Y is known for being a tough market to crack for automakers, but a new study suggests “millennials” are looking to buy or lease a new car within the next three years.
Generation Y has come of age and are now setting their sights on what new car to buy. And according to research firm AutoPacific, younger car buyers are choosing vehicles made by Toyota, Honda and Ford.
Also among the top 5 brands are Chevrolet and Nissan. Making their way onto the 2010 Gen Y (people born around 1983) list are Kia and Hyundai, who squeezed out Mazda and Jeep for a coveted spot on the list.
“The fact that Generation Y has a bigger footprint in brands like Hyundai and Kia than in past years means these brands are definitely doing something right to gain Gen Y’s attention,” says George Peterson, president of AutoPacific.
The Ford Fiesta is popular with this generation, not only because of its size and cost, but also because it’s featured sponsorship on popular shows such as American Idol and various online contests and promotions.
You’ll find the results of AutoPacific’s top 10 list after the jump.