It’s been said that millennials eschew car buying. Instead, they wait longer to get driver’s licenses, use more public transportation, and/or utilize ride-sharing. While there may be truth to that, not all millennials are abstaining from buying cars. In fact, the many who do buy used are making some downright cool choices.
In a recent study released by Edmunds, the company measured the share of used vehicle sales by model to millennial buyers (ages 18 to 34) between January and June of 2015. The findings revealed the Dodge Magnum to be the hottest used car among millennials by share, with these younger buyers accounting for 27.6 percent of all Magnums sold.
The sporty and performance theme doesn’t end here either. In third place on the list was the Subaru WRX (26.4 percent), followed by the VR6-engined Volkswagen Golf R32 in fifth (25.7 percent), the Nissan GT-R in seventh (25.4 percent), and the Lexus IS-F in tenth (24.7 percent). Seriously!
This isn’t to say that millennials aren’t buying perennially popular used cars like the Honda Accord or Toyota Camry, they’re just finding more value or attraction in these traditionally niche performance vehicle markets than other measurable age groups are.
The new car market has experienced a serious boom in crossover and SUV sales in recent years, and this is mirrored by millennial used car tastes as well. The Chrysler Pacifica ranked second on the list with 27.3 percent going to millennial buyers, followed by the Chevrolet Trailblazer in fourth (25.9 percent), Saturn Outlook in eighth (25.3 percent), and Dodge Durango in ninth (24.8 percent).
Of interesting note, the Pontiac Aztek, commonly referred to as one of the ugliest cars of the last decade, took the sixth position on the list with 25.5 percent finding millennial buyers. Its popularity may have something to do with its Breaking Bad notoriety, or perhaps low pricing and large availability on the used car market. In the end, it may be some combination of both.