Wednesday, January 25, 2012

Will Generation Y Pursue Hybrids?

Column Quick Summary:
  • 60% of Echo Boomers want a hybrid.
  • 2% of Echo Boomers want an electric-only car.
  • Echo Boomers will act on this "want" relative to the price.
  • Cars, like Mazda, will do well due to cheap price and good MPG.
  • Notice, Echo Boomers want cars that possess user-friendly technological features.

Due to the volatility of oil prices, an article points out that 60% of Echo Boomers want hybrids. If you're considering investing in the car market, starting a car business, or seeking business opportunities, there are a few things to consider about this article:

  1. Only 2% of Echo Boomers want an electric-only vehicle. Echo Boomers may view electric-only vehicles as lacking the ability to drive a far distance, thus a combination engine would offer better opportunities.
  2. Financial costs will play the largest factor as to whether Echo Boomers will act on this "want." If companies can't build cheap hybrids, Echo Boomers will still opt in for cars, which use gas only.
  3. Companies like Mazda, which offer a car that receives 47 MPG at a low cost, will win Echo Boomers, even if they aren't hybrids. Before the Mazda 3, Mazda is the third most popular car among Echo Boomers.
  4. Also, the article mentions that Echo Boomers want cars that offer interactive features, like touchscreen and smart phone features.