The auto industry is facing a serious issue when it comes to engaging with young adults who would rather spend their hard-earned cash on tech and their social lives than cars, according to research from marketing consultancy Prophet.
The study of 1,000 18-34 year olds found that a majority of UK millennials (67 per cent) would rather buy a second-hand motor and spend the saved cash on “electronics, recreation and travel”. An additional 65 per cent said they would rather invest in the latest smartphone model than that of a new car.
Half agreed that the car is losing its positon as Read full story ›
Source: The Drum
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