Poor Gen X.
Not only are Gen X’ers stuck with listening to Baby Boomer rock and roll up and down the radio dial, demographers say they’re still having to live down an earlier --and undeserved -- reputation for being quote-unquote “slackers," even though Gen X is actually a hard-working bunch.
The latest indignity is that their younger Gen Y counterparts are starting to buy more cars than Gen X, so car companies will likely start catering even more to the younger-young crowd.
According to J.D. Power and Associates, Gen Y (born 1977 to 1994) accounted for 26 percent of U.S. new-vehicle retail sales in the first half of 2014. For the first time, that was ahead of Gen X (1965 to 1976), which accounted for 24 percent. (This story uses J.D. Power definitions for birth years. Others vary.)
Baby Boomers (1946 to 1964) are still the demographic “pig in the python,” the biggest bulge in the population by far, that keeps on aging but still dominates. Boomers accounted for 38 percent of U.S. new-vehicle retail sales in the first half.
For the full year of 2013, Boomers accounted for 40 percent of new-vehicle retail sales, according to the Power Information Network, which bases its results on transaction data from a big sample of U.S. dealerships.
For 2013, Gen X was next at 24 percent, followed closely by Gen Y at 23 percent.
For 2014, J.D. Power projects that Gen Y sales volume is on pace to grow 17 percent compared with 2013. Gen X sales are still expected to grow, just not as much: a projected increase of 6 percent for 2014 vs. 2013.
It’s hard to predict what impact that demographic shift will have on car design in the long run. According to PIN, compact cars are the most popular segment for Gen Y, with 20 percent of vehicles sold to the group coming from that segment. For Gen X, compact SUVs are the most popular segment, accounting for 15 percent of sales.
However, those numbers aren't exactly overwhelming choices. Besides, it’s a truism that “life stages” affect vehicle choices. Gen Y DINKs – double-income, no kids – can get by fine with a compact car, but when you add kids and more stuff, Gen X’ers may need more vehicle.
None of this does much to change what’s on old-fashioned FM radio. On the bright side for the younger generations, the digital alternatives keep getting better and better.
