MaritzCX New Vehicle Customer Study: Young, Wealthy Drivers Like Ford’s Performance Cars
Kids these days; they like their video games, their YouTubes, their YOLOs, and their sporty cars. In fact, they really like sporty cars, according to MaritzCX’s New Vehicle Customer Study, which found that buyers of sportier Ford car variants are considerably younger on average than buyers of non-sporty variants.
For example, the average Ford Fiesta buyer is 45 years old, but the average buyer of a Ford Fiesta ST is closer to 35 years old. Focus ST drivers are 36 years old and Focus RS drivers are 41 years old on average, both considerably younger than the average 46-year age of a regular Focus driver. Additionally, drivers of the new Ford Fusion Sport are three years younger on average than a typical 2017 Ford Fusion owner.
Ford sees this as an indication of its success at winning the admiration of MILLENNIALS, which in turn is an avenue to loyal customers for years to come.
“With repeat customers making up around half of industry sales, capturing younger buyers while they still have many vehicle purchases remaining in their lives is good for business,” said Corey Holter, Ford car group marketing manager.
Ford notes that the idea of millennial car shoppers paying more for the sportier versions of its vehicles brings with it the caveat of affluence. The average household income of a Ford Fiesta driver is around $59,000, but that income goes up to $102,000 a year for drivers of the Fiesta ST. Ford Focus ST drivers have an average annual income of $108,000, while drivers of the Focus RS make an average of $169,000 per year (though Ford points out that the data for the Focus RS “is limited and not statistically significant”).
Ford also noted that younger drivers tend to prefer vehicles with EcoBoost engines. In one provided example, the age of EcoBoost Mustang buyers is about three years younger on average than that of shoppers who purchase Mustangs powered by V6 or V8 engines.