SANTA MONICA, California — Tech-savvy Millennials are becoming a more educated and self-sufficient group of car buyers due to their prolific use of mobile devices, according to a new study by Edmunds.com.
"Millennials today are informed car buyers," said Avi Steinlauf, Edmunds.com CEO. "They're making the most out of the volume of information available at their fingertips, and it's helping them to make a smarter car purchase. And since a smart car buyer is a quality car buyer, it all points to an optimistic and healthy future for the auto industry."
According to the study commissioned by Edmunds in early 2015, 73 percent of Millennials (ages 18-34) said they believe they are savvier car buyers than their parents.
More than half of Millennial respondents also said they actively advise friends and family on the car-buying process, compared to 37 percent of older Americans.
The study found that Millennials turn to mobile devices for critical car-shopping activities such as reading vehicle reviews, locating vehicles for sale and researching vehicle pricing.
Edmunds' research concluded that 80 percent of Millennials used their mobile devices to help them with at least one car-shopping task, compared to just 46 percent of people age 35 and over.
The study also pointed out that this group still heavily values the in-dealership experience.
Among the other findings:
*Millennials ranked technology features such as infotainment and Bluetooth well behind price, fuel economy and performance.
*About one out of every three Millennials said they used their phones to find contact info for a local dealership, compared to one out of four adults age 35 and over.
*Mobile capabilities are especially useful to Millennials for in-dealership activities, such as using calculators to determine monthly payments and evaluating vehicle options and warranties.
Edmunds says: Younger car shoppers know the benefits of going mobile, both remotely and at the dealership, to find the perfect ride.