GfK, Germany’s largest market research institute says there is evidence that Millennials want more than just smartphone and Internet connectivity. They are also very intrigued about ‘well-being’ features like those that prevent drivers from nodding off, vital sign monitors, massaging seats and even in-car air filters and purifiers.
Traditional automotive industry approach is to introduce these features in higher-end cars in hopes that market appeal brings down the economies of scale to make it cheaper to produce in entry-level models.
GfK found out that automakers will benefit most if they push new technologies to less-expensive cars to attract ‘techies’ and then let it slowly creep to luxury vehicles and the older generation. Pretty much like how smartphones and tablets have collared Generation Y and Z before their elders picked it up.
The study also indicated that the younger generation is willing to fork out their hard-earned cash for the ‘right features’ in the car. They are more interested than the older generation in features that are passenger-centric instead of being just a plain driver’s car.