Throughout the last decade, demographers have predicted that Millennials would become the generation that was not interested in owning or driving vehicles. This rationale was based on the rise of car share programs, increased interest in developing public transit, and the explosion of e-bikes. These consumer trends were considered to be the hallmarks of Millennial consumerism.
Midsize, Full Size and Heavy Duty
But contrary to consumer analyst projections, Millennials have become the largest generation of pick up truck buyers in America in 2021. This Millennial consumerism trend has also dominated all product lines including midsize, full size and heavy-duty pick up trucks. This runs contrary to the many different consumer choice alternatives to private vehicle ownership.
Millennials are defined as having been born between 1977 and 1994. According to Tyson Tominy, J.D. Power Vice-President of Data and Analytics, “that while it’s traditional for each generation to eventually overtake the previous generation in consumer habits, the veracity that Millennials have overcome the Gen Xers (born between 1966 to 1971) and the Baby Boomers (born between 1946 to 1965) has happened at an astonishing rate.
What’s Behind the Numbers?
While it’s too early to tell what is driving the Millennial pick up sales, other consumer trends might help tell the story. Whereas Millennials are interested in buying homes, raising children and taking part in the home renovation craze spurred on by the pandemic, owning a pick up truck might be the logical choice for transportation and lifestyle facing Millennial consumers on the go.
Elaine Allan, BA, MBA
Vancouver, BC, Canada
Technology & Business Blogger