Europe Affluent and Their Cars: the Unexpected Truth

Affluent who own 4+ cars are the ones who get most out of life. Luxury car owners are not by definition the happiest in life.

Europe Affluent and Their Cars: the Unexpected Truth

Affluent who own 4+ cars are the ones who get most out of life

Latest research shows that the biggest petrol heads among Europe’s Affluent get the most fun out of life!  Affluent individuals who own 4 or more cars, there are 807,000 according to Ipsos Affluent Europe 2017, not only get more out of life, they love their job and travelling (87%, 77%, 86%).

Luxury car owners are not by definition the happiest in life

You might think that the Luxury car brand owners, owners of brands such as Aston Martin, Lamborghini*, would be pretty pleased with their lives! But while they are quite content with life in general (85%), work (59%) and travel (73%) is less attractive for them.

Baby Boomers potentially best market for environmentally friendly cars

Baby Boomers** are the biggest market for new cars: 2.3 million Affluent Baby Boomers consider purchasing a new car in the next 12 months. There are more of them and they have more money to spend than Millennials***.However, it seems that the automotive industry has done a poor job promoting hybrid / electric cars to the more mature car buyers. Baby Boomers are less likely than Millennials to consider purchasing an electric or hybrid car (53% vs. 64%). However, they are more environmentally aware than their younger counter parts (68% vs 54%) and they more often consider a car being environmentally friendly is key to purchasing compared to Millennials (11% vs. 6%). A great opportunity for a car brand able to clearly articulate the benefits!

Environment and cars - millennial vs baby boomer

*Luxury car brand owners: owners of Aston Martin, Bentley, Ferrari, Lamborghini, Lotus, Maserati, Porsche or Rolls Royce
** Aged 55-74
*** Aged 21-34

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