How These 5 Luxury Car Brands Are Grabbing Millennials

Luxury cars are ever since a want afforded by affluent families around the world, with prices ranging from seven figures or more. For them, it is a sound investment. After all, most luxury car brands offer cars that have far more horsepower, safety measures (Mercedes Benz continues to manufacture bulletproof vehicles, plain ol’ class and out-of-this-world features.
But with the world economy sliding up and down the graph, and the number of rich and wealthy dwindling down by the decade, these same brands must devise a way to appeal to the other aspects of the market. And where to go but to the holder of the biggest segment of the US population—Generation Y, also called “millennials”?
Why attract millennials, you say? Aside from the fact that they are numerous, millennials are highly susceptible to suggestions especially if it involves improving their careers or own selves. Not to mention the fact that by conquering this marketing segment, you conquer the whole car dealership industry itself.
But the fact remains that millennials do not look at car-buying as a rite of passage towards adulthood anymore. In fact, most of them prefer booking a car on Uber or Grab because it removes the hassle of car ownership, like getting auto insurance and finding a parking space, not to mention the fact that most of them prefer investing on the latest iPhone model than the Subaru Impreza.
If car companies who offer affordable cars still struggle in getting this demographic to purchase one, the burden doubles when it comes to luxury car brands who are in the pricier part of the spectrum. Because of this, the latter exerts additional effort to lure millennials in. Here are five of these brands.

Porsche

This brand continues to remain in the top spot as the most popular luxury car brand thanks to its effective marketing strategies that target different segments of the population.
Thus, it is not a surprise that they come to eye the millennial segment as well. Deesch Papke, the CEO Porsche Middle East & Africa, said in an interview that people in this demographic rarely shows up in car showrooms—if they want to check out or buy a car, they would go to Google and seek reviews, specs, and other related stuff. By the time they do enter the store, they come in with questions, demands, or immediately test drive the car they are eyeing.
To keep up, Porsche provides intensive training to their sales representatives. Aside from that, they remain in touch with their customers to further enhance their overall experience with the brand.

Mercedes Benz

Another fixture in the luxury automotive industry, MB also knows the fact that millennials do not have the time in the world to go to their store and purchase a car. Thus, they bring their cars to them by employing social media marketing, an online environment where most people from this demographic spend almost all of their time. They partnered with different social media influencers and videographers who would deliver their brand message in a language only millennials can understand.
In short, MB appeals to their intended audience by creating visual content that promises premium experience they can share with the world…and Instagram accounts.

Volkswagen

VW also explores the large possibilities of this demographic by researching vigorously on what works for them. Their facility can be found in Silicon Valley, Northern California where other bigwig companies like Apple, Facebook, and Google reside.
Because these tech giants are just a stone throw away, VW partner with them to create vehicles where drivers can integrate their smartphone unit and use their apps even with their hands on the wheel. This recent collaboration with one of these giants, Apple brought, iBeetle to the world, a venture so successful that other car dealerships are following suit.
Now, they are developing new technologies that would enable the vehicle to take selfies and photos of different sceneries even while you drive and another one that would signal you if something is stolen inside your vehicle.

Jaguar

Because the company understands the millennial’s need to document every unique experience they had, Jaguar employed a strategy—or better yet, a tool that would record the test drive they did with one of their cars. It would translate the experience into a two-minute video which the person would receive via email to be shared to his or her social media accounts.
While the strategy barely did much to improve their sales, the Jaguar spokesperson said that it gives them enough exposure in making their brand a household name to this demographic—a long shot, but a good one at that.

BMW

Aside from the usual social media marketing (their Facebook page has over 20 million likes), BMW claims and even encourages everyone to embrace unconventional methods of online marketing strategies, like taking a stand on social issues and bringing their brands right where the young people are—even if it means showcasing in rock and roll concerts. Hildegard Wortmann, the senior vice president of BMW, emphasizes that millennials want brands to see them as actual human beings, not as moving, breathing money-making machines. Telling them how to live and what to buy does not work anymore, but letting them know that you share the same ideals as theirs is.

As you notice, millennials value unique experiences and similar ideologies more than the specs, aesthetics, and yes, even the price. By maximizing their need for online glory, car companies can still convince this demographic to have vehicles of their own. But they must make these folks notice them first.

How to Save Money on a New Car

Purchasing a new car is a major advance, however, it doesn’t need to be an overwhelming one. You can do a little bit of research to know where you can have a good deal. It is also important to know more about the car you are planning to buy. Likewise, one of the big steps of buying a new car is to be prepared in spending a huge amount of money. Regardless of the possibility that you get financing, you may need to make an entirely fair amount of down payment. How?

Here are some of the tips that can help you in saving money:

1. Know the Car You Want
If you are sure and you know precisely what car you need, that is fine. But if ever you haven’t researched, you may not know the specific disadvantages of a vehicle, concerns of different drivers about it, or the reasonable cost. Try not to purchase until you’ve educated yourself about the car you want.

2. Know When to Buy
The myth on buying a vehicle in specific months is actually true. This is due to the fact that dealers get newest models – usually comes by the end of September. Dealerships clear out the old models to make room for the new ones. You will be able to get a good deal around that time of the year. The best time to also shop for a new car is during the Christmas season. Salesmen are usually pressured to make deals amid this time, so you’re in a good position to negotiate the amount you want.
The month of January is also the best time to buy a new car, particularly if your area is near with heavy winters. Many people are worried to purchase a new car only to slip on the ice and harm it, so they don’t purchase until the point that the climate warms up.

3. The Week of the Month is Important As Well
Most auto sales representatives profit from the commissions they get for every vehicle sold. Toward the start of the month, many are out to offer cars for as much as they would to get vast commissions from everyone. Their disposition changes by the end of the month, particularly if they haven’t sold cars and need to profit. They probably go for making modest commissions on different deals if their pay check isn’t looking too great.

4. Don’t Wait Until You’re Desperate
Many individuals drive a car until it’s close to breaking apart since they believe purchasing a new car is a waste of cash. Be that as it may, this abandons them in a terrible situation when their car gives out and they need to have a new one. Some want to purchase a new car as quickly as time permits, so they’re not willing to play hardball with a dealership. Buy a vehicle when you don’t actually have one as much as possible. That way, you’re free to leave a dealership in the event they won’t negotiate with you.