Are these car brands in trouble soon? Buyers over 70 years old, but young people do not feel a connection
A significant portion of new car buyers in Finland are over 70 years old, indicating a potential crisis for automotive brands catering to younger demographics.
The Finnish automotive market faces a notable shift in its buyer demographic, with a startling 68.6% of new car buyers aged over 50, and a worrying 21.8% of them being over 70 years old. Despite the influx of new models and emerging technology, the trend suggests that the automotive sector may soon encounter challenges as fewer young consumers, particularly those under 30, engage with new car purchases. Only 2.8% of new cars are bought by this age group, raising questions about the sustainability of brands if the older demographic continues to dominate car buying.
Toyota has emerged as the leading brand in Finland's new car market for 2025, with a clear dominance highlighted by its vehicles occupying the top four positions in first-time registrations. This success among older buyers suggests that brands targeting a younger audience may need to reassess their marketing strategies, as their current approach fails to resonate with the younger generation. Jarmo Mäenpää, an auto industry expert, underscores this concerning trend, where the lack of engagement from younger consumers is signifying a potential crisis that could reshape market dynamics.
As the car industry navigates these shifting consumer patterns, it stands at a crossroads. Brands must decide whether to maintain their focus on the aging population or innovate and adapt to attract younger consumers, who may prioritize different values, such as sustainability, technology, and affordability, in their purchasing decisions. Failure to do so could lead to long-term repercussions, leaving companies vulnerable in a rapidly evolving market.