If the thought of purchasing a new car keeps you awake at night, thoughts of Ford will most likely lay your fears to rest. Thankfully, most Americans are thinking about Ford already, according to new research.
The millennial generation of Americans is on the move, and Ford’s arrangement of utility automobiles caters to the millennial generation’s demanding lifestyle—one characterized by efficiency and uncompromising quality.
The millennial generation gave its respect to the globally renowned automaker, crowning Ford as the brand they consider first when purchasing a vehicle.
Henry Day Ford, a local Salt Lake City dealership, microcosms Ford’s ability to meet the millennial generation’s demands. With a young, adventurous demographic, Utah citizens rely on Ford’s array of utility vehicles to facilitate their journeys more than ever.
Ford’s younger buyers show increased preference for compact and full-size SUV models. For instance, the Ford Explorer and the Ford Escape boast the largest increases in millennial sales consideration, with 1.7 percent and 1.1 percent increases, respectively. On a local scale, we see this trend at work when Henry Day Ford has its lot stocked with 15 Explorer and Escape models to accommodate the preferences of the Utah demographic.
Those figures appear small, but the small percentages account for a combined 461,000 vehicles between the two models. The millennial generation’s consideration of Ford vehicles could lead to millions in future revenue.
Maritz Research, a marketing company specializing in consumer behavior, notes that purchase consideration is a leading indicator of future purchases in the sales funnel.
Despite the difficulty of successful maneuvering in the automobile market, it was Ford’s astute forecasting that led to this increase in sales consideration. The company planned to see this trend materialize since 2008.
Ford’s ability to effectively plan for emerging markets, which are characterized by unclear features, will continue proving itself an integral component to Ford’s competitive advantage.