U.S. Generation "Y": Beliefs and Attitudes Towards Environment and Personal Mobility Needs and Vehicle Preferences

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Report Excerpt

Definition of Gen Y:
Who is Generation Y?
Why should the industry be concerned about them?

The term “Generation Y” refers to the offspring of the “Baby Boomers,” born from the mid 1970s through the mid 1990s. Currently in the xx to xx age group, Generation Y is the largest generation since the “Baby Boomers,” with a population of approximately xx million in the US and about 100 million in Europe. Generation Y differs significantly from previous generations in many ways, from upbringing to political influences. Global events, such as terrorism, economic recession, and climate change have shaped this generation’s beliefs, attitudes, and behaviour. Characteristics of Generation Y are include the general increase in the use of and familiarity with communications, media, and digital technologies. Economic prospects for Generation Y have worsened due to the recession of the late 2000s. The U.S. unemployment rate for youth has hit record levels (xx.x percent in July 2009); nevertheless, Generation Y makes up future vehicle buyers who are likely to expect to be connected 24/7.