By William Maley
Staff Writer - CheersandGears.com
March 25, 2013
For a time, young buyers that wanted a vehicle ventured towards the Japanese brand since they offered the features and content they were looking for. Now the tide is changing with younger buyers going towards American and Korean brands.
Bloomberg gathered data from Edmunds and R.L. Polk which showed American automakers increased their share of retail registrations by 1.9% with 18 to 24 year olds and 1.5% with 25 to 34 year olds since 2008. Korean automakers saw the largest jump in retail registrations with a 6.8% increase in 18 to 24 year olds and 5.1% increase in 25 to 34 year olds.
Japanese automakers have been taking brunt of the loss with a drop of 9.8% in 18 to 24 year old group and a 7.7% drop in the 25 to 34 year old group. Japanese automakers still dominate the 35 and under crowd with 43% percent of sales going to them.
So what are the American and Korean automaker doing to claw some of these sales? Building vehicles that appeal to young buyers.
"U.S. automakers have burst onto the scene in recent years with small, fuel-efficient and affordable cars that really appeal to a young set of buyers," said Jessica Caldwell, an analyst with Edmunds.