One of the more interesting developments in the automotive industry in the past handfull of years is how it is preparing for the next generation of big-time buyers. You may have heard of them before, millennials.
While this demographic has been smeared as well as adored — smeared for being annoying brats and adored for fixing computer problems — one thing we know for sure is that they're not well understood.
In recent years there's been conflicting reports about their feelings on vehicles. Some have said they're not going to be buying autos and others have projected that they will be buying MORE autos. Like I said, they're not understood quite yet.
Ford though has put out some rather interesting information though. That's because the Blue Oval is reporting that the 25-34 year old demographic is more inclined to buy the Ford Explorer over the likes of the Ford Escape.
Keep in mind that the Escape has a base price of $23,100 and the Explorer has a base price of $31,050.
The reasoning behind this is that millennials are exercising foresight as they begin to start their families. What if number one wants a number two or three?
In addition to this, we think there may be more than meets the eye here. While we're sure there's plenty of eager millennials starting families, we're more inclined to think that the fact the Explorer looks like watered down Land Rover Range Rover may have something to do with it.
Ford is finding that Millennials are opting to buy its midsize Explorer SUV, rather than its compact Escape, a departure from the conventional wisdom that the group would rather use public transportation, ride-hailing services such as Uber and Lyft or smaller cars to get around...
...The fact that the Explorer is the automaker's most popular SUV among buyers ages 25 to 34 is surprising not only because it's larger — and would seem more appropriate for families with a lot of kids — but also because it's pricier. Explorer starts at $31,050, without destination charges. The cheapest Escape, by comparison, is $23,100...
Read Article