Gen Z women buying more luxury cars
As older females opt for pricier Euro brands and baby-boomers get into green machinesNew research has found young women are opting for luxury European brands when it comes to buying their next set of wheels.
Second-hand BMWs are among the most popular for low-income 18 to 24-year olds, according to new research from analytics company Greater Data, which says car ownership figures for that group have almost doubled over the last five years.
Furthermore, the data has revealed older women are also skewing more towards luxury brands, with those in the 35-39 year bracket increasingly buying second-hand models from brands such as Maserati and Volvo.
According to the research, women aged between 35 and 39 have accounted for a quarter of used Volvo sales in the last year, while the most popular models for the demographic in NSW is the Mercedes-Benz C-Class, BMW 3 Series and Volkswagen Golf.
“Women of all ages are emerging as the primary growth market for Australian luxury automotive sales, which clearly indicates to brands that they should shift the way they build and advertise their cars in order to stay relevant to their core target audience,” said Greater Data chief executive Georgie Brooke.
Toyota’s green machine also appears more popular with the older portion of the baby-boomer segment. In 2014, the core age bracket for Toyota Prius owners was 40-44-year-olds, while it now sits at 60-69-year-olds.
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