DETROIT (AdAge.com) -- Young consumers, in this case those born between 1977 and 1994 who fall under the Generation Y label, will buy about 700,000 new cars and trucks this year, according to a study released today from consultant J.D. Power & Associates.
According to the study,
this emerging demographic will increasingly gain influence on the automotive industry as they mature, and the study predicts Gen Y households will outnumber those of their older Gen X siblings within 10 years.
As vehicle buyers, this younger age bracket is less interested in larger models and more interested in lower prices and manual transmissions than older consumers.
J.D. Power found the top five auto brands most attractive to Gen Y are: Kia Motors America and its sibling Hyundai Motor America, Volkswagen of America, and General Motors Corp. brands Saturn and Pontiac.