It’s seems like every generation in the United States has caught sport utility vehicle fever. SUVs sell like hotcakes and it makes sense. SUVs are that super-practical, do-anything machine for the 21st century. It’s not uncommon to hear about baby boomers getting a small SUV in the interest of downsizing, or GenXers opting for something larger and more luxurious as they move through their prime earning years.
Millennials are no exception either as they pass into their formative earning and family-raising years.
And while large, luxurious SUVs have their appeal, their smaller counterparts – often referred to as compact utility vehicles – are catching on with younger buyers.
“We see the emerging entry CUV segment growing at a very fast rate and the industry has seen customers looking for CUV body styles over sedans,” said Tyler Graves, Planner – Chief Marketing Manager, Nissan North America. “CUVs offer the fuel efficiency of small cars while offering additional versatility and cargo space.” “Saving money drives the younger buyer in their choice,” added Michelle Krebs, Executive Analyst, Autotrader. “Smaller vehicles have smaller price tags and sip less gas.”
Untapped Potential
Generation Z, the cohort after millennials, made up 25 percent of the U.S. population in 2015 according to Forbes. Generation Z consists of those born from the mid-1990s to the early 2000s, and is a larger cultural sect tha...