Do Echo Boomers Value Owning Their Own Car?
As Echo Boomers mature, some generational differences involving car ownership are beginning to emerge. While the article seems to imply that Echo Boomers avoid car ownership because of the environment, most of the avoidance comes from the costs of a car (important: what cars will Generation Y buy?). Another missed observation is Echo Boomers choice in where they live.
Keep in mind that only 10% of Echo Boomers hold more than $1,500 in their name, and anyone with a car can tell you stories about a time when their car needed repair. These repairs add up over time, and they reflect only the tip of the iceberg. A car owner also needs gasoline, regular oil changes, and decent insurance. With some of these prices rising, some Echo Boomers may find that using public transportation or living close to work provides them with more money.
Some other noteworthy trends:
- Many Echo Boomers admit that if they could, they would drive less than they currently do. Notice the main reason: the high cost of owning a car, not the environment. The additional information about texting and posting to Facebook provides some humor that many car companies won't appreciate.
- From the same article, unlike former U.S. generations, Echo Boomers would like more transportation options. Based on the Echo Boomers I've spoken with, it seems that the Southern Millennials experience this problem with transportation options more than the Northern Millennials. Other transportation options such as public transportation, electric/fuel cell cars, natural gas vehicles, and even carpooling options may also be popular among Echo Boomers in the long run.
- When it comes to environmental concerns, Echo Boomers drive less due to environmental reasons than other U.S. generations. As they have more options with vehicles, this may play into their considerations if they buy a car - a fuel cell or electric vehicle will be preferred over a gas guzzler, plus $4 per gallon is still fresh in their mind.
- The most popular choices and brands of cars right now with Echo Boomers center around price. Right now, price is the biggest factor in their choice and this will continue as long as they have light wallets.
