Filed under:
Car Buying,
Japan,
South Korea
Edmunds has taken a closer look at the buying habits of young adults. As it turns out, Gen X and Gen Y buyers are increasingly eschewing Japanese brands in favor of South Korean and American automakers. Five years ago, that wasn't the case, with more than half of all young buyers flocking to brands like
Nissan,
Honda,
Toyota,
Subaru and
Mazda. But the U.S. has made up quite a bit of ground in recent years by producing inexpensive and fuel efficient small cars that appeal to a younger audience. Likewise,
Hyundai and
Kia have sharpened their small car games as well, and are now making more credit available to younger customers.
Those efforts have begun to pay dividends. While Japanese brands have seen their share of 18-24 year-old buyers slide by 9.8 percent between 2008 and 2012, domestic automakers have enjoyed a 1.9 percent increase. South Korean brands, meanwhile, have enjoyed the largest jump, with a 6.8 percent increase over the same time period. Check out the full press release
below for more information.
Continue reading Younger buyers leaving Japanese for South Korean, American brands
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Study: Younger buyers leaving Japanese for South Korean, American brands
