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The following is the 2021 Z generation insight auto Report From E-Car Research Institute recommended by recordtrend.com. And this article belongs to the classification: Automobile industry, User Research, research report.
Since 2020, generation Z (born from 1995 to 2009) has stepped over the age of 25, entered the golden age of marriage and birth, and become a new force in China’s passenger car market. Generation Z has more than 260 million people, accounting for 18.5% of China’s total population. Theoretically, it has great potential to buy cars. At present, most car companies and dealers have high hopes for Z generation, and they are eager to get rid of difficulties, fight back or pursue success by fighting for Z generation. However, the actual effect is not satisfactory. Except for a few high-quality brands, most of them are wishful thinking. They have not won the favor of generation Z, and they have not achieved impulse or Jedi counterattack. Some brands are more difficult because they emphasize generation Z. What are the problems? What are the challenges and opportunities of Z generation? How should car companies and dealers handle them?
The contribution of generation Z (born in 1995-2009) to the sales volume of China’s passenger car market is not as good as that of generation Y (born in 1980-1994), but its profit contribution and added value creation will be significantly stronger than that of generation Y: in the past decade, the disposable income of generation Y is 20000-30000 yuan, and the purchase price area of a family of three or four focuses on 80000-150000 yuan. In the next ten years, the disposable income of generation Z is expected to rise to 30000-60000 yuan, and the core purchase price area of three or four families will rise to 150000-250000 yuan. The profits and added value contributed to the auto market will also double, further stimulating the development of derivative services in China’s auto market, such as software upgrading, auto finance, beauty, decoration, modification, maintenance, etc.
1. The continuous decline of the birth population has laid many hidden dangers for the Z generation to promote the growth of the automobile market. From 2021 to 2025, the majority of automobile enterprises should not place their greatest hope on the Z generation! This is especially true for the mainstream joint venture automobile enterprises which mainly focus on the sales of compact cars;
2. The continuous increase of personal income creates more possibilities for the Z generation to improve the added value of the auto market. The appeal point for the Z generation from 2021 to 2025 should not be limited to simple sales promotion, should not be eager for quick success and instant benefits, should be included in the transformation and upgrading strategy of auto enterprises and dealers, and should be long-term layout;
3. Car companies with difficult sales have to focus on short-term momentum, and those with stable sales have the energy to make long-term layout. Generation Z will become the accelerator for the survival of the fittest in China’s car market;
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