The youngest -included in Generation Z, or those under 28 years of age- who enter the market represent 4% and if the band also includes those called millennials-between 29 and 41 years old-, extends to 22% of the total.
The hatchback format – which has a cabin or passenger area with an integrated cargo space – is the most popular in all ages and it becomes stronger in the entry segments that the youngest buy.
SUVs – sport utility vehicles or all-terrain vehicles – respond better to family needs, almost the same as sedans that are maintained thanks to models such as the Cronos, which has been the best-selling car in recent months.
“The natural cycle of life itself indicates that the older generations should gradually make room for the new ones in the market of vehicles new. 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,” the report highlighted.
In the last 11 years, baby boomers went from representing almost 40% of the market to less than 30% today. Generation X remains around 25% of the market and millennials grow upwhich go from 10% in 2010 to 20% today, while Generation Z enters the market gradually as they get older and can buy a car.
Source: Ambito
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