Here are the BRAND Insider’s top 5 branding news of the week:
According to a new study by TrueCar.com, Scion, Mitsubishi, and Mazda are the most popular brands in the automotive market among young drivers [17-28 year olds]. These three brands accumulated 52.2% of market share within Generation Y buyers. We will take an inside look of why these brands are popular.
Social interaction has become an important factor for the newest generation of auto buyers. They live in a time where new friends are made through Facebook, one checks-in to their favorite locations onto Foursquare, share interests on Twitter, and recommend their favorite foods on Yelp! The top three automotive brands have adopted these new social sites and have engaged in the social conversation.
“Generation Y buyers are very important to automakers because they help set trends from popularizing social media sites such as Facebook or Twitter or technologies such as the iPhone and iPod,” said Jesse Toprak, Vice President of Trends and Analysis at TrueCar.com. “It’s also important for an automaker to get a young buyer into their vehicle from the beginning in hopes of continued loyalty to the brand.”
Here are the following stats on the top three brands using social media. [As ofJuly 15th]
1. 65,756 likes for Scion on Facebook
7,723 Scion Twitter Followers [50 Klout score]
2. 178,999 Mitsubishi Likes on Facebook
6,362 Mitsubishi Twitter Followers [48 Klout score]
3. 337,488 Mazda Likes On Facebook
9,945 Mazda Twitter Followers [58 Klout score]
The Anticipated 2012 Scion iQ Courtesy: Green Car Reports
Many of these vehicles appeal to the newer generation because they are not your typical sedan or compact car. Scion and others strive to create and design vehicles that are unique, modern and affordable for their young market. For example, the 2011 Scion tC [the most popular car among Gen. Y] comes with 44 standard features including an USB Port with iPod connectivity and over 150 accessories.
“Generation Y buyers want vehicles that look distinct and can be tailored to their individual tastes” said Kristen Andersson, an Automotive Analyst at TrueCar.com. “Buyers from this generation are also looking for vehicles that have the technology features they are accustomed to built into the vehicle at an affordable price.” Below is the ranking of the top ten ‘youthful’ automotive brands:
Top Ten Youthful Brands According to TrueCar.com
Through the Eyes of a Marketer 