DETROIT, Jan. 10 (UPI) -- Gas mileage and vehicle affordability have emerged as the most important considerations for young "Generation Y" car buyers, a consumer survey indicates.
The survey, released Sunday by the consulting group Deloitte, in collaboration with the Eli Broad Graduate School of Management at Michigan State University, showed "Gen Y" changing priorities from a year ago when data showed safety was the top factor.
Deloitte said the resounding impacts of the auto industry's economic woes have also had an effect on young car buyers, with 44 percent indicating they preferred to purchase a vehicle from a brand that did not accept federal bailout funds. Similarly, only 36 percent reported they would consider buying a vehicle from a company that is or has recently been in bankruptcy.
"Generation Y is typically a group that thinks 'newer is better,' but as the economy is slow to recover and jobs are hard to find, this generation may help reshape the car-buying process," said Michelle Collins, Deloitte's vice chairman and U.S. automotive sector leader.
The survey included 1,100 randomly selected participants ages 18 to 30 in various geographic regions.
