Millennials' Interest in Buying, Leasing Cars Increasing

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.

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BMW Courting Bloggers to Reach New Buyers

BMW and other luxury automakers, are making an active effort to work more closely with those in new media. The idea is that by courting bloggers and tweeters, they stand a better chance of reaching a new group of younger buyers that can’t be targeted through traditional media platforms such as TV, radio and print publications.

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Study Says Gen Y Favors Hybrids and Connected Cars

Considering that many members of Generation Y (the demographic group born between the early 1980s and mid 1990s), spend much of their time connected to the web, they tend to favor vehicles that provide  advanced in-car technology and connectivity; via handheld devices, to the outside world.

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Youngest Car Buyers Seek Out Foreign Brands

Collectively known as Generation Y or Millennials, those born after 1980 appear to be showing an even greater preference for ‘foreign’ brand cars in North America than even Gen-X members or the baby boomers before them.

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Generation Y Buying Toyota, Honda and Ford Cars

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.

[Source: USA Today]

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