Millennials to become the majority car buyers from 2020

According to a new study, in 2020, most car buyers in the next 5 years will be the millennials who would be coming of age to buy a car. 

A research study conducted by Deloitte suggests that most car buyers in the next 5 years will be the millennials who would be coming of age to buy a car. Every year the market is shifting towards satisfying the millennial tastes. It is not just about the automobile market, today’s market is a lot different than the past five years. It is estimated that millennials will have a combined buying power over $31 trillion. That number can shake up any market place.

At CARHP, we ensure that our reviews are fun to read being informative at the same time. It just makes the buying process for engaging and informed for the new age buyers.

Yes, millennials are waiting a bit longer to get their driving licenses but they are still into purchasing and driving cars. With models like Audi A3, BMW 1-series and Mercedes CLA; the luxury market has become more affordable. Millennials are aspirational shoppers and early in their lives, they are likely to choose a car that matches their personality. Below are the 4 things that millennials do differently while shopping for a car:

1.    They do thorough research before speaking to the dealership. With the help of the internet, they look into the details of their chosen vehicle. They are well aware of the specifications, reviews and price points. They also have an idea of financing options available. So, when they enter the showroom they have already zeroed in on their car.

2.    They heavily used gadgets to improve their regular lives. From smart phones to smart watches, and smart homes millennials are at the forefront of the technology race. They expect their cars to be well equipped with software to keep up with their usage and for this advantage, they are willing to spend more.

3.    Millennials waste no time by going from dealership to dealership to get best offers. They want easy access to information. Instead, they use car-shopping websites like CARHP  to search for any new/used car, compare quotes and read in-depth reviews to make a better decision. CarHP has a collection of over 2000 car reviews, buying advice and inventory of cars from local dealerships. 

4.    The Millenial customer likes to interact in a different way. They surely like customer service that goes an extra mile to fix their issues. Before confirming a purchase, they reach out to customer service agents. Although, they like personal interaction. But the best way to reach them is via social media or text. 

CARHP.COM is an automobile startup that is looking to simplify car buying experience in the US. The website helps the users to choose a car that suits their needs better. CARHP uses car reviews, buying guides and comparisons to inform the buyers about their prospective purchase. CARHP offers an extensive inventory of new and used cars near your location.

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