Millennials More Interested in Used Cars, RVI Analyzes Supply and Price Trends April 2, 2015

Milliennials Want Used Cars and Face-to-Face Time with Dealers

Avi Steinlauf

Millennials (age 18-34) make for a significant used car buyers segment. Used car purchases made up 78% of all Millennial car purchases last year, compared to 68% of all car purchases by adults 35 and over. While Millennials made up only 39% of all traffic to used car pages on Edmunds last year, they made up 58% of all mobile traffic to those same pages.

Read all about the new Millennial generation study by

80% of Millennials Use Mobile Devices for at Least One Car Shopping Task:
Just 46% of people 35 or older do so; reading vehicle reviews is topic of most interest for Millennials.

64% Prefer Face-to-Face Interaction with Dealers as Opposed to Remote Communications:
An overwhelming 96% said that it is important to test drive the car before they buy it.

72% of Millennials Have Considered Buying a Hybrid or Electric Vehicle:
66% said they would consider buying a self-driving car if it goes to market.
Abdalah_Rene_RVI Group

RVI Group Looks at Used Vehicle Supply and Pricing through 2018

Rene Abdalah
Vice President, Passenger Vehicle
RVI Group

Used vehicle prices (measured with seasonal adjustments and applying to 2-to-5 year old vehicles) declined in February 2015. Used vehicle prices declined by 1.4% from January, but increased 1% over February 2014. Real used vehicle prices (after adjusting for MSRP) showed a decline of 1.1% from January. When compared to February of 2014, real used vehicle prices were down 1.1%.

For the entire Quarterly Report from RVI Group, go to

Off Lease Vehicle Supply Forecast to Cause 10% Drop in UC Prices in 2018:
Competition among automakers and incentive activity also expected to increase.

Last Year Was Strong for Lease Penetration at 19.6% of US New Vehicle Sales:
RVI Group predicts higher lease penetration to continue for 2015-16 model year vehicles.

Full-Size Pickups Saw Slight 0.3% Decline and Was One of Best Performers:
Used supply expected to ramp up, putting downward pressure on used prices.
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