Is GM or this study right about the buying trends of future car buyers?
07-29-2013, 04:46 PM
#41
Team Owner
On the other hand, 50+ year olds are getting those pesky kids out of the house and out of college and want to buy something special for themselves.
BTW, the comment "that is what Cadillac is for" holds no water. Corvettes have been sold to older demographics for over 50 years now, so this is not some new revelation.
The market for 2 seat sports cars have been shrinking for years far faster than the general demographic trends. People are moving to sports sedans.
Last edited by jschindler; 07-29-2013 at 04:49 PM.
07-29-2013, 04:56 PM
#42
Team Owner
I agree. It is a slippery slope for GM. Youngsters don't have as much money, and they have a bad habit of getting drunk and having kids (ooops, did I say that out loud?) and can no longer justify a two seat sports car.
On the other hand, 50+ year olds are getting those pesky kids out of the house and out of college and want to buy something special for themselves.
BTW, the comment "that is what Cadillac is for" holds no water. Corvettes have been sold to older demographics for over 50 years now, so this is not some new revelation.
Shrinking for years is out of context. It did not start shrinking until almost exactly five years ago when the sky fell out of the economy and people quit buy all sorts of cars. The Corvette was selling as strong as every until then. The dynamics of why the Corvette sales have not come back up as quickly as the market in general is a very complex discussion.
On the other hand, 50+ year olds are getting those pesky kids out of the house and out of college and want to buy something special for themselves.
BTW, the comment "that is what Cadillac is for" holds no water. Corvettes have been sold to older demographics for over 50 years now, so this is not some new revelation.
Shrinking for years is out of context. It did not start shrinking until almost exactly five years ago when the sky fell out of the economy and people quit buy all sorts of cars. The Corvette was selling as strong as every until then. The dynamics of why the Corvette sales have not come back up as quickly as the market in general is a very complex discussion.
Wasn't the "Cadillac that Zigs" marketed towards the youngsters? It flopped also.
I see a five to one ratio of C-class Mercedes vs the CTS around here. They talk about the resurgence of the Cadillac brand because it is styled for the younger market, but that's not what I see loclally. In luxury cars, it's Lexus and Mercedes around here followed my BMW and Acura. Cadillac is down with the Jaguar and the Infiniti.
Last edited by JoesC5; 07-29-2013 at 05:06 PM.
07-29-2013, 05:03 PM
#43
Team Owner
We know what happened when they designed a Cadillac for the older farts(or did they market it to the youngsters?). Hard to keep up, with my shrinking grey matter.. Called it a XLR and it's no longer around.
Wasn't the "Cadillac that Zigs" marketed towards the youngsters? It flopped also.
Wasn't the "Cadillac that Zigs" marketed towards the youngsters? It flopped also.
07-29-2013, 05:10 PM
#44
Race Director
07-29-2013, 05:32 PM
#45
Burning Brakes
My 25 year old nephew graduated two years ago with a BS in Nano Engineering from Louisiana Tech. He is living at home because he hasn't been able to find a job. He is a paraplegic(ATV accident in high school), but that shouldn't hurt his chance of finding an engineering job.
In 1966, I had no problem finding employment as an engineer, and I still couldn't afford a new Corvette, so I bought a new 1966 Olds 4-4-2(in boring silver with a black vinyl top).
In 1966, I had no problem finding employment as an engineer, and I still couldn't afford a new Corvette, so I bought a new 1966 Olds 4-4-2(in boring silver with a black vinyl top).
As for your boring-gray Oldsmobile, I couldn't afford a [new] Corvette within the first couple years out of college, either (had to settle for my IS
). And I would probably not be in the situation I'm in now had I not had loving, responsible, well-off parents who paid my way through college.. and then gave me the leftover money from my college fund with the hopes that I'd go to grad school (nuts to that! worthless in my field of work).That is another advantage that's more and more difficult to have these days, both with the exponentially increasing costs of tuition and with the increasing difficulty for parents to save money given the increasing cost of living... So even if you have a good degree and a solid job after college today, odds are good that you also have a lot of student debt significantly curtailing your discretionary income.
Last edited by RocketGuy3; 07-29-2013 at 05:46 PM.
07-29-2013, 05:41 PM
#46
Drifting
I guess I don't fit the Demographics
I'm living alone now (wife's in a nursing home) and still have my 2010 RX450h. I'm driving more as it's 2 1/2 hours each way there. I have a Torch Red C7 on order to sit in the garage at night next to the Lexus. I'll be 70 in January.
So tell me where I fit in who ever wrote that article
. My boys are doing well but can't afford $70k for something they really don't need.
So tell me where I fit in who ever wrote that article
. My boys are doing well but can't afford $70k for something they really don't need.
07-29-2013, 06:09 PM
#47
Team Owner
Yeah, there's no silver bullet major. But if you go to an at-least-decent school, get a STEM degree, get at-least-decent grades, and have most of your screws in place, your odds of finding an at-least-decent job soon after you graduate are generally very good.
As for your boring-gray Oldsmobile, I couldn't afford a [new] Corvette within the first couple years out of college, either (had to settle for my IS). And I would probably not be in the situation I'm in now had I not had loving, responsible, well-off parents who paid my way through college.. and then gave me the leftover money from my college fund with the hopes that I'd go to grad school (nuts to that! worthless in my field of work).
That is another advantage that's more and more difficult to have these days, both with the exponentially increasing costs of tuition and with the increasing difficulty for parents to save money given the increasing cost of living... So even if you have a good degree and a solid job after college today, odds are good that you also have a lot of student debt significantly curtailing your discretionary income.
As for your boring-gray Oldsmobile, I couldn't afford a [new] Corvette within the first couple years out of college, either (had to settle for my IS
). And I would probably not be in the situation I'm in now had I not had loving, responsible, well-off parents who paid my way through college.. and then gave me the leftover money from my college fund with the hopes that I'd go to grad school (nuts to that! worthless in my field of work).That is another advantage that's more and more difficult to have these days, both with the exponentially increasing costs of tuition and with the increasing difficulty for parents to save money given the increasing cost of living... So even if you have a good degree and a solid job after college today, odds are good that you also have a lot of student debt significantly curtailing your discretionary income.
07-29-2013, 07:06 PM
#49
Race Director
The corvette is becoming less popular since like a post said, there are allot of sport
sedans that look just as good. Can offer someone more utility than a weekend toy.
Insurance is high, Gas is high, labor cost to fix a car is crazy especially for high models
like the vette. Once warranty gone the car is less desirable.
Young people have bleak future with less job opportunity's. Student loans that
will probably never be able to pay back. Poor credit to get financed. You seen the
high no job prospects numbers for grads this year, will do nothing but get worse.
Have kids why they can't feed themselves unless part of privileged welfare crowd
or obama kinds.
sedans that look just as good. Can offer someone more utility than a weekend toy.
Insurance is high, Gas is high, labor cost to fix a car is crazy especially for high models
like the vette. Once warranty gone the car is less desirable.
Young people have bleak future with less job opportunity's. Student loans that
will probably never be able to pay back. Poor credit to get financed. You seen the
high no job prospects numbers for grads this year, will do nothing but get worse.
Have kids why they can't feed themselves unless part of privileged welfare crowd
or obama kinds.
07-29-2013, 07:07 PM
#50
Team Owner
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"In honor of jpee"
Example: ("Minnesota Public Interest Research Group: MPIRG
www.mpirg.org/
Nonprofit organization founded, funded and directed by college and university students. An advocacy group on issues of the environment, consumers and social ..."
And if that Frontier Group is the one below, well, you decide if all this info is relevant to you, the Corvette buyer, the potential Corvette buyer, converting/stealing a P-car buyer, etc. Me, I think not. I also doubt GM is reading/coming up with this kind of study results and basing biz decisions on same.
" http://www.frontiergroup.org/page/fg/about-us
What We Do
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07-29-2013, 07:30 PM
#52
7th Gear
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Some of you guys come off like a bunch of "get off my lawn" old farts. The past couple of years, I guess the BEO's haven't been buying enough corvettes to sustain the brand. (Something like 8000 units?!?). I guess you should see that as a failing for you group, and take some responsibility.
07-29-2013, 07:47 PM
#53
Safety Car
That's my point. The car was designed with me as a target buyer. It is successful in that regard. I'm a new member to the forum, because the C7 moved the corvette from a car with respectable performance but unacceptable build quality, owner stigma, etc. to a viable car to own.
Some of you guys come off like a bunch of "get off my lawn" old farts. The past couple of years, I guess the BEO's haven't been buying enough corvettes to sustain the brand. (Something like 8000 units?!?). I guess you should see that as a failing for you group, and take some responsibility.
Some of you guys come off like a bunch of "get off my lawn" old farts. The past couple of years, I guess the BEO's haven't been buying enough corvettes to sustain the brand. (Something like 8000 units?!?). I guess you should see that as a failing for you group, and take some responsibility.
And what is this 8k units you refer too? Do some homework before you start typing, and by the way the forum or its members were not responsible for the housing and economic fall out.
07-29-2013, 07:58 PM
#54
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Viable as a personal purchase.
13-14k units the past 4 years....apologies for the bad info, but the point remains, not enough. GM had no choice but to find a new (additional) buyer group. I still can't sort out why you expected to be the target buyer into your grave? You should start a 'seats are too low' thread.
13-14k units the past 4 years....apologies for the bad info, but the point remains, not enough. GM had no choice but to find a new (additional) buyer group. I still can't sort out why you expected to be the target buyer into your grave? You should start a 'seats are too low' thread.
07-29-2013, 08:08 PM
#55
Melting Slicks
Viable as a personal purchase.
13-14k units the past 4 years....apologies for the bad info, but the point remains, not enough. GM had no choice but to find a new (additional) buyer group. I still can't sort out why you expected to be the target buyer into your grave? You should start a 'seats are too low' thread.
13-14k units the past 4 years....apologies for the bad info, but the point remains, not enough. GM had no choice but to find a new (additional) buyer group. I still can't sort out why you expected to be the target buyer into your grave? You should start a 'seats are too low' thread.
I have owned 25 vettes and some of that time had 2 or 3 at the same time. The last time I had to take out a loan on one was when I was in my last year of college and borrowed $2,000 to buy a brand new 1968 convert in the fall of 1967.
07-29-2013, 08:12 PM
#56
no clue but it seems kids nowadays are more interested in cell phones than cars. I am 33 and even most people my age could car less about cars. Could have something to do with the fact that cars today, with the exception of high-end sports cars and exotics, all look similar and all look like crap.
I should have been born in the late 50s snd 60s when most cars, even your entry level ones, where beautiful and distiguishable. Todays entry level cars all look the same, and 99% of them are all ugly. If designers from those days where aroound today, they would not believe their eyes...
I should have been born in the late 50s snd 60s when most cars, even your entry level ones, where beautiful and distiguishable. Todays entry level cars all look the same, and 99% of them are all ugly. If designers from those days where aroound today, they would not believe their eyes...
Last edited by Paulchristian; 07-29-2013 at 08:14 PM.
07-29-2013, 08:15 PM
#57
Safety Car
Viable as a personal purchase.
13-14k units the past 4 years....apologies for the bad info, but the point remains, not enough. GM had no choice but to find a new (additional) buyer group. I still can't sort out why you expected to be the target buyer into your grave? You should start a 'seats are too low' thread.
13-14k units the past 4 years....apologies for the bad info, but the point remains, not enough. GM had no choice but to find a new (additional) buyer group. I still can't sort out why you expected to be the target buyer into your grave? You should start a 'seats are too low' thread.
It's quite apparent you have no decency, do you talk to the elders in your life the way you speak here? If so I feel for them!
07-29-2013, 08:17 PM
#58
Team Owner
Viable as a personal purchase.
13-14k units the past 4 years....apologies for the bad info, but the point remains, not enough. GM had no choice but to find a new (additional) buyer group. I still can't sort out why you expected to be the target buyer into your grave? You should start a 'seats are too low' thread.
13-14k units the past 4 years....apologies for the bad info, but the point remains, not enough. GM had no choice but to find a new (additional) buyer group. I still can't sort out why you expected to be the target buyer into your grave? You should start a 'seats are too low' thread.
Like I said before, when I die of old age, I will be replaced by another old fart who has been waiting in line behind me. Until I physically can't drive any more, why should I not enjoy a Corvette, so why should I not be the target buyer for the Corvette? Contrary to the popular belief of the youngsters, we can function quite well after the age of 60. Just a few weeks ago I was running at 4500 RPM in 5th gear in my Z06.
Youngsters aren't going to save the Corvette. If they don't have the jobs and the money, how are they going to buy a new Corvette? Sure there are exceptions. Some youngsters can afford a new Corvette, just as not all old folks can afford a new C7.
An economy that is thriving is what is going to save the Corvette. Then both the old folks will feel okay with breaking out our wallets, and the youngsters will be able to get jobs that pay enough to buy a $65,000 toy.
Last edited by JoesC5; 07-29-2013 at 08:20 PM.
07-29-2013, 08:32 PM
#59
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They don't need the average 25-45 year old to be able to afford a $65k vehicle, they need a mere 35-40k. (Total, including 46+ buyers that are not still butt hurt about the angular taillights)
There are plenty that can. GM needed to attract them. GM has taken aggressive steps toward that goal. I hope it works.
Tell me again, what was the alternative? What are you suggesting? These threads just seem to be motivated by current owners that are indignant about GM looking for additional markets to get the volume back. The OP seems to be almost hoping the C7 fails since it was stated that he fell outside this new target buyer range. What is that? I guess age and maturity aren't the same.
Anyway, peace. You guys definitely have more free time for the interweb than 25-45 yo's
There are plenty that can. GM needed to attract them. GM has taken aggressive steps toward that goal. I hope it works.
Tell me again, what was the alternative? What are you suggesting? These threads just seem to be motivated by current owners that are indignant about GM looking for additional markets to get the volume back. The OP seems to be almost hoping the C7 fails since it was stated that he fell outside this new target buyer range. What is that? I guess age and maturity aren't the same.
Anyway, peace. You guys definitely have more free time for the interweb than 25-45 yo's
