More than three-fifths of young people plan to use money stockpiled during the Covid-19 lockdowns to buy a new car.
That’s according to Auto Trader, which says 17–24-year-olds have saved an average £2,000 as a result of restrictions over the past year.
The new and used car marketplace said one of ‘Generation Z’s’ priorities is ensuring their chosen car brand plays its part in protecting against the climate crisis. Twenty-seven percent of the 500 people surveyed cited this as a top consideration.
A fifth revealed they would consider buying an electric vehicle or an alternatively powered car, while 23 percent said their car must have a good navigation system. Also, 22 percent said it must have an adequate sound system.
Reflecting their personality
A quarter of ‘Gen Zers’ said they wanted a car that will ‘reflect their personality’ and 11 percent said the potential for their car to be ‘Instagramable’ is important.
Auto Trader also found that a third of 17-20-year-olds had missed out on their driving test due to the pandemic. And half of 17-24-year-olds admitted that the pandemic had impacted their car buying plans. This comes as learner drivers face an eight-month wait to take their test.
“Despite the challenges felt around lockdowns, it is great to see that Gen Z are overcoming financial concerns to reap the benefits they will get from owning a car,” said Erin Baker, editorial director at Auto Trader.
“It’s a marked change from their usual trend of waiting until older years to buy.”
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