Making up over 25% of the population, Millennials represent more than 10 million Canadians*—all of driving age. Understanding what makes them different from the generations that preceded them is critical for any aftermarket business.
Millennials refer to a cohort of people born roughly between 1980 and 1996. But apart from that shared range of birth dates, they are a diverse group, both socially and economically. However, there are common trends to be found in how they look at vehicle ownership, maintenance and repair. Getting a grip on these trends is important – Millennials will be a driving demand in the Canadian automotive aftermarket for decades to come.
- Of the 36% who take their vehicle for maintenance and repair (M&R), 17% prefer going to an independent automotive service (ASP) shop only;
- Millennials view ASPs as providing 'value for money' (53%) and being trustworthy (34%) as compared to dealerships; and,
- 64% of Millennials would like to better understand who controls vehicle data, whereas 78% agree that vehicle manufacturers should be doing more to educate Canadians about who owns the data.