Pre-Owned Vehicles Perfect for Millennials & Gen Zs
Pre-owned vehicles are the right match for technology-obsessed millennials and Gen Zers.
The current average transaction price stats for new vehicles in the U.S. marketplace topped off at $38,000. The pre-owned automotive sector is as strong as it has been in nearly two decades.
The seasonally adjusted annual rate (SAAR) tracking sales of franchise and independent pre-owned dealers was an estimated 20.6 million units in October. The strong comeback of new vehicle sales has created a selection of high-quality pre-owned inventory.
Gone are the days of the financial crisis and the controversial cash for clunkers program that wiped out a generation of prime pre-owned vehicle stock. With a plethora of used vehicles, the possibilities are endless, these cars have experienced an almost three-year run-up in prices.
The value-conscious millennials and GenZ audience's sweet spot in the car marketplace is quality pre-owned, used cars. As many of these selections are late-model off-lease and carefully vetted franchise dealership trade-ins, the "looks-like-new" low-mileage and value pricing appeal of the used car market is incredibly compelling.
The broad spectrum of the pre-owned vehicle sector is particularly appealing to tech-savvy, research-oriented younger buyers. Dealers win their affection and attention when they offer younger buyers the challenge to find that "golden ticket" deal!
The thrill of the hunt entices the skillset and sensitivities of younger car buyers. In other words, millions of pre-owned offers available on dealer and aggregator sites across the internet, appeal to this mobile device generation.
Web-Rooming To Build Confidence & Improve In-Store Experience
Tech startup 321 Ignition is youth-focused. Their mobile-first online strategy is based on the most advanced web platform car shopping productivity tools in the e-commerce industry.
Unlike auto dealership web templates bundled with a range of DMS and CRM services, the only objective of 321 Ignition is to help auto dealerships increase sales.
Millennial and Gen Z spend over 4 months and a total of 14.5 hours on the car buying process. The majority of that —up to 9 hours—is spent conducting online research to improve their in-store experience.
Above all, auto dealership websites must meet the highest expectations of millennial and Gen Z car buyers to control this critical market.
Most importantly, 321 powered sites have what these younger car buyers cave. They design sites that don't sacrifice performance and functionality with mobile-first. 321 Ignition sites are not just desktop sites optimized for mobile,
Online Dealership Presentation of Pre-owned Vehicles
321 Ignition is a tech team that honed its expertise driving half-billion-dollar campaigns for companies including Microsoft, Capital One and Zillow. The team focuses on helping dealerships attract millennial and Gen Z customers. They have combined demographic groups that are near twice the size of the Boomers.
The 321 Ignition experience keeps buyers engaged, informed, productive and efficient. Based on the results of dealerships using the platform, consumers overwhelmingly prefer the 321 Ignition web-rooming experience.
The platform uses design and functionality to offer enterprise-class digital marketing capabilities. Therefore helping to maximize customer contacts and increase sales conversions for dealerships.
In other words, informed consumers — especially younger buyers—are looking for detailed info on special offers and incentives. They want to sort car models, trim levels, safety features quickly. Learning about warranty programs, financing options, insurance, and the monthly payments best suited to their budgets is key.
These are all details 321 Ignition incorporates, organizes and delivers through dealership websites. To sum up, to assure capturing these generational segments, quality pre-owned dealerships to step up their online game. These are the car shoppers that will dominate the auto market for the next 30 years.