Gen Z and The Future of Car Buying

 

Generation Z ('Gen Z') is rapidly growing its share of the adult population in Southeast Asia and is projected to represent 30% of the total demographic by 2030. Consequently, understanding the preferences of this generational cohort becomes crucial for OEMs, distributors, and dealers to prepare the right products and services.

In April 2023, ABeam Consulting surveyed over 2,200 respondents across Indonesia and Thailand, the two largest automotive markets in Southeast Asia. The findings reveal that Gen Z shares many similarities with other generational cohorts, while also exhibiting few noticeable differences. As a result, we anticipate that the future of car retail will need to adapt to better serve younger demographics. However, we expect this change to be an evolutionary process, not a revolutionary one, as many Gen Z buyers expressed satisfaction with the way they purchased their last vehicle.

For the second consecutive year, ABeam Consulting proudly served as the knowledge partner at the Future Mobility Asia Exhibition & Summit. During the recently concluded Future Mobility Asia 2023, held in Bangkok from May 17th to May 19th, 2023, ABeam Consulting delivered a presentation about Gen Z's preferences in car ownership and purchasing. To access the full presentation, please click the link below.