According to the survey carried out by Siomma, more than half of car + pickup buyers are over 41 years old (53%). Baby boomers are still the ones who buy the most 0 km (28.5%) while Generation X represents just under 1⁄4 of the market (24.2%). The new generations entering the market represent 4%. If we add the millennials, the youngest do not exceed 22%.
The hatchback format is the most popular among all ages and is becoming stronger in the entry-level segments that the youngest buy. The SUVs respond better to family needs, almost the same as the sedans that are maintained thanks to vehicles such as the Cronos, which has been the best-selling for months.
The very natural cycle of life indicates that older generations should gradually give way to newer ones in the new vehicle market.
Indeed, the so-called baby boomers are ceding part of their dominance to millennials and Zs, however, the truth is that they are still the largest buyers of vehicles in Argentina.
In the last 11 years, baby boomers have gone from representing almost 40% of the market to less than 30% today. Generation X remains around 25% of the market and millennials are growing, going from 10% in 2010 to 20% today, while Generation Z gradually enters the market as they age and can buy a car . Today they are just under 5%.
Source: Ambito
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