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Post-COVID car ownership boom to be led by millennials, EY finds
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Click the thumbs up >Millennials (24-39 year olds) are expected to lead a car ownership ‘boom’ that will benefit the post-COVID car retail sector, according to the 2020 EY Mobility Consumer Index.
It found that, while almost a third of people without a car intend to buy one in the next six months as consumers look for new methods of mobility due to the coronavirus pandemic, Millennials will represent 45% of all first-time car owners.
The study, which surveyed more than 3,300 consumers across nine countries, also revealed that one-in-five (20%) people who already own a car would be open to purchasing an additional vehicle.