Go Back   Team-BHP > BHP Worldwide > The International Automotive Scene


Reply
 
Thread Tools Search this Thread
Old 25th June 2017, 22:14   #16
BHPian
 
Durango Dude's Avatar
 
Join Date: Mar 2009
Location: Chennai
Posts: 745
Thanked: 617 Times
Infractions: 0/2 (9)
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

Fully agree with the Gen Y! It's becoming a challenge to drive in the urban environment! With Taxi aggregators charges becoming very competitive, I think they have a point. Learning to drive is becoming more and more challenging, so much so, unless you're keen to drive or have friends who egg you along to become mobile, there's no incentive to learn to drive or ride.
Durango Dude is offline   (3) Thanks Reply With Quote
Old 26th June 2017, 14:05   #17
GTO
Team-BHP Support
 
GTO's Avatar
 
Join Date: Feb 2004
Location: Bombay
Posts: 47,470
Thanked: 87,263 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

My brother is a millennial, as are all of his friends. I have discussed cars with them at length, so have first-hand experience.

They definitely don't care about cars as the generations preceding them do (meaning, us oldies). Instead of locking up a lot of money in a car, they care a lot more about lifestyle. That is, they'd rather spend that EMI money on gadgets, clothes, going out, travel etc. Car ownership is expensive business & you can significantly boost your quality of life by letting go of your car.

Of course, it sure doesn't help the automotive cause that Uber, Ola, Zoom & gang have made it so easy to survive without a car. My brother hadn't started the Sunny for the longest time; when I asked him why, he said he preferred Uber because of the convenience. Had to give him a lecture on why it's important to keep a car running.

However

In India, millennials will continue to buy cars. Even my brother - although not automotively inclined - does want to buy a nice sedan. Different matter how much he's going to use it.

Reasons:

1. Buying your first car is a big climb up the social ladder. Somehow, we care a lot more about what our neighbours & cousins think than Americans.

2. Public transportation in India is incomparable to that in the West. In India, you need a car. Period.

3. Marriage prospects improve. Fact. Just ask the guy who's family has never owned a car.

Last edited by GTO : 26th June 2017 at 14:07.
GTO is offline   (12) Thanks Reply With Quote
Old 26th June 2017, 14:16   #18
Senior - BHPian
 
greenhorn's Avatar
 
Join Date: Apr 2007
Location: TN-14
Posts: 6,800
Thanked: 1,255 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

Quote:
Originally Posted by GTO View Post
Of course, it sure doesn't help the automotive cause that Uber, Ola, Zoom & gang have made it so easy to survive without a car. My brother hadn't started the Sunny for the longest time; when I asked him why, he said he preferred Uber because of the convenience. Had to give him a lecture on why it's important to keep a car running.
I had generally given up on Car as a Service like uber & ola because their service levels are not 100% ( you may not get them when you badly want them)

I was trying to impress this logic onto my uber riding sister - heck, was even willing to sponsor the initial purchase OR maintenence of a second hand hatch for her, when it dawned on me that I was part of the problem - In my case, if i cant catch an uber, I am screwed. If she can't catch an uber, she usually calls me or my parents up and whines until I am forced to drop/pick her up

Then i realized all of the times i have played backup driver for my friends who got stood up by cabs, and realized that it is people like us who are part of the problem
greenhorn is offline   (10) Thanks Reply With Quote
Old 26th June 2017, 18:38   #19
Senior - BHPian
 
aargee's Avatar
 
Join Date: Jan 2010
Location: KATN
Posts: 4,692
Thanked: 2,093 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

Quote:
Originally Posted by ninjatalli View Post
it would be more appropriate if you/we started threads with relevant up-to date articles for the forum to discuss and debate
What a coincidence? I was thinking the same!! Start a new thread on your digging & drilling!!

Quote:
Originally Posted by ninjatalli View Post
As for the current state of the US auto sales and whether the "problem" still exists, there are probably several articles showcasing both positive and negative trends
That's what this thread is about

Quote:
Originally Posted by ninjatalli View Post
Over and out!
Thank you for not going OT

I guess the below is more than sufficient to keep your drills away from this thread
Quote:
Originally Posted by GTO View Post
My brother is a millennial, as are all of his friends. I have discussed cars with them at length, so have first-hand experience.

They definitely don't care about cars as the generations preceding them do (meaning, us oldies). Instead of locking up a lot of money in a car, they care a lot more about lifestyle. That is, they'd rather spend that EMI money on gadgets, clothes, going out, travel etc. Car ownership is expensive business & you can significantly boost your quality of life by letting go of your car
Thanks GTO

Last edited by aargee : 26th June 2017 at 18:40.
aargee is offline   Reply With Quote
Old 27th June 2017, 10:53   #20
BHPian
 
nishsingh's Avatar
 
Join Date: Apr 2013
Location: Hyderabad
Posts: 203
Thanked: 475 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

Quote:
Originally Posted by hemanth.anand View Post
One more thing is 'buying a car' was an achievement for majority of old-gen people but now every household has a car and there are no 'special' feelings attached to a car.
Can't agree more!

I remember Anand Mahindra saying the same thing during the TUV launch - the Uber/Ola generation doesn't really need a car; for car-makers it is imperative that they produce cars that evoke emotions strong enough to make people want one in their garage.

Last edited by nishsingh : 27th June 2017 at 10:54. Reason: Edited for clarity
nishsingh is online now   (1) Thanks Reply With Quote
Old 27th June 2017, 12:05   #21
BHPian
 
Join Date: Nov 2016
Location: Karnal
Posts: 30
Thanked: 38 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

For me, someone who is a "millennial" born in the mid 90's, the ideology is as follows: Why spend 4-5 Lacs on a first car, when for the same amount(or half the price), one can get a much more powerful and somewhat traffic proof 2 wheeler. Yes, in heavy traffic the left hand goes numb and the thighs start burning, but then again, the time wasted in traffic is lesser than that spent in an Uber(due to ease of filtering). With a 2 wheeler, there's generally no problem of parking and you get the convenience of travelling at your own pace, anywhere you want, anytime you want.
eddy481 is offline   Reply With Quote
Old 27th June 2017, 13:24   #22
BHPian
 
Join Date: Oct 2015
Location: Chennai
Posts: 38
Thanked: 37 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

Being a millennial myself, I dont have the same amount of excitement now when i think of buying a car, new/used, as I had when i bought my first one. Incessant traffic, bad driving on road, and longer travel times have taken the fun out of the entire driving experience.

Nowadays, i dread at the thought of taking my car out on weekdays, especially during peak hours and instead, prefer my bike, unless it is unbearably hot or it rains. Getting out of the city during long weekends/holidays makes me regret going out on a road trip. In fact, i started taking trains/flights whenever possible, even for distances less than 500 kms.

Adding to that, cost of maintenance and rising fuel costs mean a lot is being spent on depreciating assets and on an experience that is going to add more stress to our already stressed out life. Parking in a mall during the weekends takes up at least 30 minutes. Even though the experience with Ola/Uber and such hasn't been 100% positive, they do serve the purpose most of the times.

And don't get me started on owning a house !!!
ReluctantRebel is offline   Reply With Quote
Old 27th June 2017, 13:42   #23
Senior - BHPian
 
comfortablynumb's Avatar
 
Join Date: Jul 2007
Location: Pune
Posts: 1,293
Thanked: 890 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

Well, these days jobs are also not as secure (or even restricted to 1 location for a long time) as they were in the past. That also could be 1 reason why younger folks are reluctant to tie up too much money in cars, houses etc.

Cheers,
Vikram

Last edited by comfortablynumb : 27th June 2017 at 13:44.
comfortablynumb is online now   (2) Thanks Reply With Quote
Old 27th June 2017, 16:33   #24
BHPian
 
livetodrive's Avatar
 
Join Date: Apr 2011
Location: Hyderabad
Posts: 94
Thanked: 108 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

Quote:
Originally Posted by nishsingh View Post
Can't agree more!

I remember Anand Mahindra saying the same thing during the TUV launch - the Uber/Ola generation doesn't really need a car; for car-makers it is imperative that they produce cars that evoke emotions strong enough to make people want one in their garage.
Agree 100%. I am not Gen Y and I love cars. Though the fact is I actually need it but I can't foresee it till I munch 25K KMs every year.

In my last car change I had a tough fight with wife to convince her that if she is mostly working from home, groceries and medicines are reaching your doorstep, movies can be watched anytime and shopping is just a click away, then just for the sake of long drives why should we maintain an elephant.

However, I test drove an Abarth and then it was a different story....

But the question remains, do we really need it? Maintaining and keeping it in perfect condition is not an easy task. Moreover, since its use is getting very limited, I feel I am ignoring her....so many emotions it brings, its really tough to decide if I am right or wrong...

Putting it simply, I might not need her, but can't live without her. Period.
livetodrive is offline   (1) Thanks Reply With Quote
Old 27th June 2017, 21:00   #25
BHPian
 
anku94's Avatar
 
Join Date: Dec 2009
Location: Bangalore
Posts: 225
Thanked: 27 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

Quote:
Originally Posted by greenhorn View Post
Then i realized all of the times i have played backup driver for my friends who got stood up by cabs, and realized that it is people like us who are part of the problem
Haha, happens all the time.

Friend with car takes us out for Friday drinks (friend doesn't drink) since the area is near his home (deal being we'll Uber back home), suddenly it starts raining and all cabs in the area vanish, friend has to drop us all back home.

At least he gets free DJ services on the ride back.
anku94 is offline   Reply With Quote
Old 27th June 2017, 21:27   #26
BHPian
 
maker_of_things's Avatar
 
Join Date: Sep 2015
Location: Pune, India
Posts: 129
Thanked: 130 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

Being a millenial born in the early 90s, here's my take on this.

I recently purchased a second hand 2010 Fiat Linea (thanks to Dad). Before this, my primary mode of transportation used to be my motorcycle and Uber. From where I stay, the daily office commute is nearly 54 km (both ways). Here's the difference that I've noticed in my commutes -
  • My monthly fuel consumption has gone up by over a 100%. And as it's a petrol it does burn quite a hole in my pocket.
  • The time taken for the commute has also doubled. What used to take 25-35 minutes now takes atleast 50 minutes. More if the traffic is bad.
  • The initial repairs (worn out shock absorbers, link rod, broken ignition coils) did cost quite a bit of moolah (Fiat, to replace the whole lower control arm bushings, you need to replace the whole lower control arm itself ). Ergo, 4 cylinders are costlier to maintain than 1.

Despite all this, I love driving my car and my motorcycle. It's fun. I do chauffeur around my parents as and when needed but apart from that, I really don't like driving in city traffic, where I have to constantly worry about some idiot hitting me, given how the cabbies/autowallahs/two-wheelers drive in the city. I'd rather take a cab instead. Just today, a water tanker lightly bumped my car's tail section while I was stationary at a red signal. Then he proceeded to honk his brains out. These things are bound to happen in a city where people don't have even the basic road discipline.

But come the short weekends rides out of the city and the long drives, I'm game. I'd rather drive my own car over taking a cab or a self-drive rental.

Taking an interest in most things mechanical is kind of my hobby. I do plan on learning to work on my cars for small repairs and mostly DIY stuff.

Here's an interview of Jeremy Clarkson and James May (ex-Top Gear hosts) in which they discussed the same issue of millenials not preferring to drive cars, which in turn is causing manufacturers to produce cars which are not fun to drive, and quoting Captain Slow - As dull as refrigerators.
maker_of_things is offline   (1) Thanks Reply With Quote
Old 27th June 2017, 22:39   #27
BHPian
 
jassi_jeeper's Avatar
 
Join Date: Nov 2013
Location: Chandigarh
Posts: 53
Thanked: 37 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

I own 2 cars, and with Ola/Uber I feel, the second car is just money consuming junk. I do love cars and just can not imagine being car-less. Ola/Uber/Zoom won't help me when I just shoot off to the hills with my wife whithin 20 minutes of planning a short hill trip. And as I travel a lot to the hills, I have realised that small cars like the Alto/Zen are best to park at tight spots. Earlier I had a Thar and parking in the hills was a pain.
jassi_jeeper is offline   Reply With Quote
Old 27th June 2017, 23:11   #28
BHPian
 
Join Date: Feb 2009
Location: Chennai
Posts: 632
Thanked: 622 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

As a millennial, I believe the following are some of the many reasons for this:

- Owning a car is no more a matter of prestige (The term prestige itself doesn't hold much of a relevance these days). Every household has one.

- Opportunities to pursue many passions and interests in life and a car is just one of them. Buy a car and enjoy it to the fullest for 2 - 4 years and move on to other interests. There is no prestige involved to hold you back.

- Flights, Self rental, Uber, Ola, etc. along with a backup car, make movement easier once the honeymoon period is over.

- Ever increasing ownership costs(never ending service schedules, Insurance renewals, Tyres and Battery replacements, ageing related works, associated time loss tending to each), and the resulting satisfaction is way too little once the said honeymoon period gets over.

- The term 'Upgrade' that gets frequently used in this forum surprises me. Many of my friends have downgraded their cars or have gone car-less, to pursue greener pastures. Nobody cares about what car the other person is driving. One of my close friends was one of the firsts to buy old gen Ford Endeavor when it was launched in India, he then moved on to Innova and now drives a Bolero or a Swift or just hops on a cab. He spends money on travel and appreciating assets.

Would I go car-less?

Having a car can be very convenient and I will have a entry level spacious and decent hatchback(I travel quite a bit with my family and friends and enjoy travel very much but driving has only minimal part in that enjoyment), and if my family grows bigger, I might(very less chance) get a new entry level big car(like a Safari Storme) and hold on to it for at least a decade.

I lost my passion for driving long back when I started feeling that I had enough of it, so no dreams to own a bigger car. Or rather I should say Car is no more in the scheme of things for me(Surprising for me, as my family was known for owning many cars).
CliffHanger is offline   (1) Thanks Reply With Quote
Old 28th June 2017, 02:53   #29
BHPian
 
anand.shankar's Avatar
 
Join Date: Oct 2014
Location: Bangalore
Posts: 241
Thanked: 264 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

In the Indian context the Millenials should be further split in two, the early and the latter ones. I am sure every 80s kid would have went ahead and bought a car as soon as he/she had enough cash for down-payment and loan eligibility in place. However, the later lots, dont seem too keen and buy only when its a real need. If you move ahead even further, kids from later 90s early 2000s look at cars as a burden, probably because Rentals (Zoom/Uber), traffic snarls, parking issues were the norm for them growing up.

IMO, even though this report might not be accurate for the Indian situation, we might be in the same place in the next 5-10 years may be.
anand.shankar is online now   (1) Thanks Reply With Quote
Old 28th June 2017, 04:24   #30
Newbie
 
Join Date: Nov 2016
Location: HYDERABAD
Posts: 11
Thanked: 11 Times
Default Re: The Cheapest Generation - Why Millennials arenít buying cars or houses

An interesting topic and something in which i would like to compare 3 different scenarios as below, which i will refer with the serial numbers in the description:
1. Me, born and brought up in Gujarat and working in Hyd (been here for 5 years and considering the city for settling down, if things turn out well)
2. My friend, born and brought up in Gujarat, currently working in Pune without any intention of settling down.
3. Another friend, born and brought up in Delhi, back to Delhi after his education and settled in his home town.

1. Passionate about cars, like the city, likes driving, planning to settle down in the city and even if not, ready to take the hassle of working on transferring registration but happy to do all that because of his love for cars and driving. Since staying in the city is also one of the major factors in such decision that can have a mid term impact, the factor plays a big role in deciding if someone wants to buy a car or not.

2. Passionate about cars and driving but does not want to buy a car because he does not want to settle in the city or does not know which city he will settle in. This is where most of the people of the age group of 25-33 fall into. Even if they earn well, they are not ready to commit, that might be to buy a home or to buy a car. If you see, there will be many people who have purchased a home but would have let it out or would be staying in a different city. This makes them less inclined towards owning any kind of asset (appreciating or depreciating). Second, and as many people pointed out, not many people want to take the pain of driving in bumper to bumper traffic, sweat it out with gear changes (automatics are picking up but still) or consider using an uber/ola or other service provider easier on pocket for their specific travel needs compared to paying an EMI, shelling out down payment amount, maintaining the car and getting it serviced. This point works exactly like the outsourcing industry where you find someone who can take care of the hard work and you can go about doing your work better, kind of the smart work rather than hard work.

3. Passionate about cars and Driving but staying in hometown. Father already has a car, why is there a need for me to buy one right now. His point is "Whenever i need one, there is one available". That helps. So they confine themselves to using the car present at home till the time there is a real need to buy one. So, when staying back with home, the cars are used by multiple members of the family and for those long family trips too. That changes the segment of the car they want to buy. They would not buy a "fun-to-drive" sedan, which they might enjoy and change it when they are wanting to upgrade. They might want to go with an MPV, which provides them the utility in the family along with meeting the needs of the small and individual trips too.

My observations are purely from the point of view of personal experience and not taking into consideration of the sales trend or sales analysis. This is purely from knowing and interacting with my friends, who fall into either of these 3 categories, almost all the time.

Last edited by tsk1979 : 29th June 2017 at 09:54.
gopal.nishant89 is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Cars getting lighter, generation by generation vishy76 Technical Stuff 49 5th May 2017 18:31
Why aren't CVTs preferred to regular autos in india? nukeblitz The Indian Car Scene 33 18th March 2011 10:44
Why aren't alloy wheels standard in Indian cars (when they are on bikes)? Proxima The Indian Car Scene 32 12th March 2010 10:14
Why aren't 4 x 4 exhaust layouts used? Shan2nu Technical Stuff 6 30th March 2008 14:03


All times are GMT +5.5. The time now is 15:18.

Copyright ©2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks