New Study: Millennials Consider Ford More than Any Other Auto Brand
After coming of age during the Great Recession and encountering a job market that remains tight to this day, millennials have been slower to embrace car ownership than past generations. That could be starting to change, however, with recent research indicating that half of the millennial generation is planning to purchase a vehicle within the next four years.
What’s the auto brand that millennials are considering first when they finally come around to buying a car? Of no surprise to us, a new study from Maritz Research found that it’s Ford. In fact, the Blue Oval brand showed the largest increase in initial sales consideration among millennials during the past six years, rising 5.5 percentage points and moving from No. 4 in 2008 to No. 1 in 2013.
As millennials warm up to the idea of car ownership, their tastes are also maturing toward larger vehicles. The compact and full-size SUV segments have seen the largest boosts in millennial sales consideration during the past six years. That could be because many in the generation are thinking about starting a family, but it could also be that automakers like Ford have recently made huge strides in improving the fuel efficiency of their SUVs.
Completely redesigned in 2011, the Ford Explorer full-size SUV currently returns a class-leading 28 mpg on the highway with its optional 240-horsepower 2.0-liter EcoBoost four-cylinder engine. On the other hand, the latest generation of the Ford Escape compact SUV launched in 2012 and nets up to 32 mpg on the highway with its available 1.6-liter EcoBoost four-cylinder.
Whether you’re a millennial or a baby boomer, you’re always welcome to stop by our Ford dealership near Memphis to experience the efficient performance of Ford’s SUVs.