Luxury Cars Are Becoming the Go-To for Gen Z Buyers
This article explains that Gen Z is more likely to buy a luxury vehicle partially both because of social media and their upbringing. Almost 1 in 6 Gen Zers drove a BMW as their first car, and 1 in 12 said they have an Audi for their first ever vehicle. Out of the current Gen Zers who have already bought their first vehicle, 36% of them bought a vehicle that is a luxury model. However, with electric vehicles on the rise, it may be more difficult to afford the newer models. Thankfully, First-time drivers aged 18-24 prefer second-hand cars over new ones. Andy McDonald, Underwriting Manager at Heritage Car Insurance, commented, “we’re seeing a growing young crowd of classic car enthusiasts too, who won’t want to see those older models fall by the wayside. To learn more information about Gen Z’s car purchasing history click the link!
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