Motivated by a strong social conscience and keen to rent, stream and share goods and services, the Millennial generation’s revolutionary approach to spending is changing how companies, including carmakers, do business.
More than four in five Millennials believe SUVs have become more fuel-efficient and environmentally friendly during the last five years. Having shed their gas-guzzling reputation, SUVs are now on the shopping lists of one in four Millennials in the market for a new car. This statistic came from a Ford Motor Company-sponsored survey of 5,000 people in France, Germany, Italy, Spain and the UK who own a car, or who intend to buy one in the next year. These respondents were aged 17-34.
Ford is introducing an all-new fully electric SUV, with an estimated range of at least 480kms (300 miles), enough to drive from London to Paris. The company introduced three new SUVs in Europe last year, and the new zero-emission model will be one of five arriving by 2020.
“SUV sales are rising faster than any other type of vehicle in Europe, and eco-conscious Millennials are a driving force behind growing SUV demand,” says Roelant de Waard, vice president, Marketing, Sales & Service, Ford of Europe. “Customers are discovering the fuel-efficiency offered by advanced engines like our new 120hp 1.5 TDCi diesel that meets the latest Euro Stage 6 emissions requirements and delivers 115g/km C02 in the new Kuga, and the multi-award winning 1.0 EcoBoost petrol engine in the Ford EcoSport.”
Sales of Ford’s SUV models in Europe, the compact EcoSport, medium-size Kuga and full-size Edge, grew 31pc in 2016 compared to 2015.
It appears it’s not only younger drivers that are defying expectations with their choice of car. Ford data shows that the average age of customers buying hot hatchbacks - high performance versions of small and medium sized cars - increased by more than 10pc between 2010 and 2016.
Last year, Ford performance car sales - including the Fiesta ST, Focus ST and Focus RS hot hatchbacks, as well as the Ford Mustang - grew by 60pc for the second year in succession.
Last year, Ford performance car sales - including the Fiesta ST, Focus ST and Focus RS hot hatchbacks, as well as the Ford Mustang - grew by 60pc for the second year in succession.
