As of Q1 2024, Generation Z accounted for approximately 30% of the world’s population, according to McKinsey & Co. As this age group gains prevalence as a primary consumer demographic, it will provide automakers with fresh brand opportunities. These customers are expected to bring new perspectives to the industry, be eco-conscious, and open to new marketing techniques.
However, there could also be challenges. Most concerning, perhaps, is the expectation that members of Gen Z might abandon private vehicles with greater alacrity than previous generations, motivated by both financial constraints and a lifestyle preference for access over ownership. As such, the industry will need to closely evaluate what this generation truly values from mobility.
