For several decades and until relatively recently, baby boomers had been the age group most likely to buy new cars. This changed in 2020 when millennials purchased new vehicles more than any other generation. That’s according to consumer research organization J.D. Power. These individuals may be interested in visiting a Mazda dealer in Minooka to see what’s available in new models.
Three Generations Defined
The U.S. Census Bureau defines the baby boom generation by year markers but not millennials or generation X. Boomers were born between 1946 and 1964. J.D. Power defines millennials as being born from 1977 to 1994 and generation X members from 1965 to 1976. A Mazda dealer in Minooka can help people of any legal driving age find what they need.
Baby Boomers
Typically, adults in their mid-30s to mid-40s are most likely to buy new cars. As the baby boomers aged, they continued being the dominant buying group in this market sector. In 2011, consumers between 55 and 64 purchased the newest vehicles, according to the University of Michigan.
Millennials
A combination of reasons explains why millennials have generally become more interested in new cars. In the age range of 28 to 45, they have reached a point at which they can afford a hefty down payment and monthly installments. Many are starting families or have more than two children, creating interest in sport utility vehicles for the first time. They may be especially interested in new models for the latest safety features.
The inventory of available new cars can be viewed at the Hawk Mazda.
