Wondering what kinds of cars Millenials are opting for these days? You might be surprised.
A new study on the top 10 most popular cars driven by Millennials says those between the ages of 22 and 37 are buying cheaper cars than past generations.
According to QuoteWizard it looked at auto insurance quote data for millennial drivers and found that Honda Accord is the most popular among Millennials. Additionally, the average MSRP of the top 10 cars driven by Millennials is only $23,829, nearly $5,000 less than the MSRP of top five selling cars for all age groups.
- Honda Accords are the most popular cars for Millennials, followed by Nissan Altimas and Honda Civics.
- Millennials aren’t following the wider auto trends of 2018, choosing cheaper sedans over SUVs and trucks that are popular with older generations.
- The $33,000 average student loan debt by Millennials has curtailed spending.
- Urbanization trends show more Millennials are living in big cities with a wider range of public transportation and rideshare services.
- Rural areas have seen the rise of the ‘Super Commuter’ – someone who travels 90+ minutes to work and is more likely to use public transit. These alternative options create less of a need for cars, let alone expensive ones.
Here are the top 10 cars owned by Millennials and the car’s MSRP according to the study:
- Honda Accord – $23,720
- Nissan Altima – $23,900
- Honda Civic – $19,450
- Toyota Camry – $23,945
- Hyundai Sonata – $22,500
- Chevrolet Impala – $28,020
- Ford F-150 – $28,155
- Toyota Corolla – $18,700
- Ford Focus – $17,950
- Jeep Grand Cherokee – $31,945
Find the full study here: https://quotewizard.com/news/posts/top-10-most-popular-cars-driven-by-millennials