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Millennials increase Subprime segment approvals over 66%

Millennials: Moving Out of the Basement, with Better Credit and More New Car Purchasing Power

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In every corner of the dealership, change is afoot, inspired by Millennials. They’re becoming the primary generation of car buyers, and they routinely reject traditional retail practices — those habits and routines that many salespeople have practiced over decades. Their preference is to gravitate toward dealerships that apply an online to in-store experience – a blend of digital access, mobile convenience and showroom integration that’s focused on speed and efficiency. As such, these digital natives have natural expectations, habits that are shifting the automotive retail business toward a true online deal-making experience, with digital efficiency built into the showroom. In fact, according to Cox Automotive’s 2017 Car Buyer Journey, Millennials spend more time shopping, equally consider new and used vehicles, and are less than pleased with the dealership experience. Consider these key findings, courtesy of Cox Automotive**:

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