The ‘complicated’ relationship between the automotive industry & millennials.
“Travel will be more collaborative, more shared. I think the focus will be less on full ownership… younger generations are less bothered about owning stuff.”
If the trends seen in this report become reality, a business based merely on production and sales of vehicles will fail. Traditional OEMs need to innovate to become service-based businesses to survive.
Will millennials buy cars? Yes, but not as we know it.
They’re less likely to get driving licences. They tend to take fewer car trips, and when they do, those trips are shorter. They’re also more likely than older generations to get around by alternative means: by foot, by bike, or by transit.
In this ground-breaking research project, we surveyed over 32,000 millennials as well as drilling deeply into the wider macro trends to really understand the current and upcoming attitudes & behaviours of millennials to mobility. Find out more about the research methodology here.
Our goal in openly publishing both this and upcoming research projects is to accelerate innovation and change in the automotive industry.
About Different Spin
Different Spin is a specialist automotive engagement and innovation lab. We enable traditional players to innovate and new entrants to compete.
We have a challenger mindset, combined with entrepreneurial vision, creative innovation and commercial acumen. We are a heady but dynamic mix of over 100 commercial strategists, data geeks, futurologists, technologists, designers, creatives and producers working across 5 countries globally.