Study Suggests Millennials Buck The Trend Of Trucks And SUVs

BY Michael Gauthier | Posted on

Ford and General Motors are eliminating sedans in order to focus on more profitable trucks, crossovers and SUVs.

Automakers have justified this by saying they’re simply responding to consumer demand, as crossovers and SUVs are more popular with consumers. This, however, is not the case with all age groups.

A new study by QuoteWizard suggests millennials have embraced sedans, as a majority of 22-37 year olds were seeking insurance quotes for them. According to 2018 data examined by the company, most millennials drive the Honda Accord. It was followed by the Nissan Altima, Honda Civic and Toyota Camry. The only non-sedans to crack into the top 10 were the Ford F-150 and Jeep Grand Cherokee.

Despite grabbing eight out of the top 10 spots, the study suggested a number of millennials might be driving sedans because they can’t afford more expensive vehicles. QuoteWizard notes the average 2018 MSRP of the top 10 vehicles driven by millennials was $23,829 (£17,990 / €21,022), and they carry an average of $36,000 (£27,180 / €31,759) in debt.

While financial reasons may play a role, that might not explain everything, as the company cited studies showing millennials tend to be happier in more urban environments and have been moving to cities in greater numbers. The firm suggests that, since cities have more transportation options than rural and suburban areas, this age group could be less inclined to buy large or expensive vehicles.

It is important to note that the company only examined auto insurance quotes generated by users of their website. Regardless, here’s what they are saying are the top 10 vehicles driven by millennials.

1. Honda Accord
2. Nissan Altima
3. Honda Civic
4. Toyota Camry
5. Hyundai Sonata
6. Chevrolet Impala
7. Ford F-150
8. Toyota Corolla
9. Ford Focus
10. Jeep Grand Cherokee

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