{"id":1109789,"date":"2021-12-11T18:29:25","date_gmt":"2021-12-11T23:29:25","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1109789"},"modified":"2021-12-11T18:29:27","modified_gmt":"2021-12-11T23:29:27","slug":"millennials-now-buying-more-pickup-trucks-than-boomers-gen-x","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/millennials-now-buying-more-pickup-trucks-than-boomers-gen-x\/","title":{"rendered":"Millennials Now Buying More Pickup Trucks Than Boomers, Gen X"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmillennials-now-buying-more-pickup-trucks-than-boomers-gen-x%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1109789&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Members of the Millennial generation are on track to outpace Baby Boomers and Generation X in new pickup truck purchases.<\/p>\n<p>JD Power Vice President of Data and Analytics Tyson Jominy told <a href=\"https:\/\/www.cnbc.com\/2021\/12\/10\/millennials-overtake-boomers-gen-x-as-biggest-buyers-of-pickup-trucks-in-us-for-first-time.html\">CNBC<\/a> that Millennials\u2019 affinity for pickup trucks has \u201cgotten faster every month\u201d \u2014 surpassing his group\u2019s expectations.<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2021\/12\/10\/millennials-overtake-boomers-gen-x-as-biggest-buyers-of-pickup-trucks-in-us-for-first-time.html\">CNBC<\/a> reported:<\/p>\n<p>Most impactful for the current U.S. market is that Millennials for the first time this year will be the largest buyers of midsize, full-size and heavy-duty pickups. The segments are known as light-duty trucks. They represented 2.85 million sales, or 20%, of the U.S. new vehicle market in 2020.<\/p>\n<p>Amid the burgeoning coronavirus pandemic last year, Millennials overtook sales of larger pickups from Baby Boomers \u2014 born between 1946 and 1964 \u2014 and are on pace this year to beat Gen X buyers \u2014 born between 1965 and 1976 \u2013 as the top buyers of mid-size and compact pickups, according to J.D. Power.<\/p>\n<p>According to Jominy, the release of new electric pickup trucks may be driving the transition:<\/p>\n<p>Baby Boomers overtook the pre-Boomers, or the Great Generation, as the largest buyers when the Ford Mustang was rising in popularity in the late-1960s and 1970s. Now, Millennials have overtaken them with the introduction of the first all-electric Mustang Mach-E crossover\u2026<\/p>\n<p>While the average buyer age for the Mustang Mach-E are Gen Xers at the age of 50, J.D. Power reports Millennials are also the largest buyers of EVs. J.D. Power reports they\u2019ve represented 35% of new EV purchases this year compared to Baby Boomers at 29% and Gen X at 26%.<\/p>\n<p>Indeed, younger consumers\u2019 growing preference for electric vehicles reflects a changing industry and regulatory environment in the United States.<\/p>\n<p>The Biden administration \u2014 as reflected by its policy proposals over the past year \u2014 is promoting a shift away from gasoline-powered cars. Last month, Transportation Secretary Pete Buttigieg <a href=\"https:\/\/www.dailywire.com\/news\/buttigieg-electric-cars-will-make-it-so-americans-never-have-to-worry-about-gas-prices-again\">said<\/a> in an interview that the Build Back Better Act contains financial incentives for Americans to purchase electric cars \u2014 namely, by hiking the federal electric vehicle tax credit from $7,500 to $12,500.<\/p>\n<p>\u201cThe people who stand to benefit most from owning an EV,\u201d said Buttigieg, \u201care often rural residents who have the longest distances to drive, they burn the most gas, and underserved urban residents in areas where there are higher gas prices and lower income. They would gain the most by having that vehicle. These are the very residents who have not always been connected to electric vehicles that are viewed as kind of a luxury item.\u201d<\/p>\n<p>In a recent interview with <a href=\"https:\/\/www.dailywire.com\/news\/how-the-democrats-new-tax-bill-reverses-trumps-tax-cuts-an-interview-with-rep-kevin-brady\">The Daily Wire<\/a>, Rep. Kevin Brady (R-TX) \u2014 the Ranking Member of the House Ways and Means Committee \u2014 blasted the electric vehicle credit as nothing more than a boon for high earners.<\/p>\n<p>\u201cUnder this bill, a family making $800,000 per year is eligible for a $12,500 check to buy a luxury electric vehicle with up to a $74,000 price tag,\u201d noted Brady. \u201cThat check they\u2019re getting will be paid for by the maid who comes to clean their house. It\u2019s a stunning giveaway to the wealthy.\u201d<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Members of the Millennial generation are on track to outpace Baby Boomers and Generation X in new pickup truck purchases.JD Power Vice President of Data and Analytics Tyson Jominy told CNBC that Millennials\u2019 affinity for pickup trucks has \u201cgotten faster every month\u201d \u2014 surpassing his group\u2019s expectations.CNBC reported:Most impactful for the current U.S. market is that Millennials for the first time this year will be the largest buyers of midsize, full-size and heavy-duty pickups. The segments are known as light-duty trucks. They represented 2.85 million sales, or 20%, of the U.S. new vehicle market in 2020.Amid the burgeoning coronavirus pandemic last year, Millennials overtook sales of larger pickups from Baby Boomers \u2014 born between 1946 and 1964 \u2014 and are on pace this year to beat Gen X buyers \u2014 born between 1965 and 1976 \u2013 as the top buyers of mid-size and compact pickups, according to J.D. Power.According to Jominy, the release of new electric pickup trucks may be driving the transition:Baby Boomers overtook the pre-Boomers, or the Great Generation, as the largest buyers when the Ford Mustang was rising in popularity in the late-1960s and 1970s. Now, Millennials have overtaken them with the introduction of the first all-electric Mustang Mach-E crossover\u2026While the average buyer age for the Mustang Mach-E are Gen Xers at the age of 50, J.D. Power reports Millennials are also the largest buyers of EVs. J.D. Power reports they\u2019ve represented 35% of new EV purchases this year compared to Baby Boomers at 29% and Gen X at 26%.Indeed, younger consumers\u2019 growing preference for electric vehicles reflects a changing industry and regulatory environment in the United States.The Biden administration \u2014 as reflected by its policy proposals over the past year \u2014 is promoting a shift away from gasoline-powered cars. Last month, Transportation Secretary Pete Buttigieg said in an interview that the Build Back Better Act contains financial incentives for Americans to purchase electric cars \u2014 namely, by hiking the federal electric vehicle tax credit from $7,500 to $12,500.\u201cThe people who stand to benefit most from owning an EV,\u201d said Buttigieg, \u201care often rural residents who have the longest distances to drive, they burn the most gas, and underserved urban residents in areas where there are higher gas prices and lower income. They would gain the most by having that vehicle. These are the very residents who have not always been connected to electric vehicles that are viewed as kind of a luxury item.\u201dIn a recent interview with The Daily Wire, Rep. Kevin Brady (R-TX) \u2014 the Ranking Member of the House Ways and Means Committee \u2014 blasted the electric vehicle credit as nothing more than a boon for high earners.\u201cUnder this bill, a family making $800,000 per year is eligible for a $12,500 check to buy a luxury electric vehicle with up to a $74,000 price tag,\u201d noted Brady. \u201cThat check they\u2019re getting will be paid for by the maid who comes to clean their house. It\u2019s a stunning giveaway to the wealthy.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1109789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1109789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1109789"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1109789\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1109789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1109789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1109789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}