Yet there might be another explanation: there are no appealing cars.
Whether they’re a recent college graduate or a high school student competing with a mother of two for a job at McDonald’s, young people today aren’t exactly having an easy time in the job market.
So it stands to reason that if a Millennial is looking for a new car, they’re probably looking for something cheap.
With a base price of $12,780 (including destination), the 2014 Nissan Versa sedan is one of the cheapest new cars around. It’s also tragically boring.
From its flabby exterior to its modest powertrain, the Versa seems to have been designed with indifference; a car built to a price. Then again, what else can you expect from the bottom of the market?
If you shopped for a small, economical car in 1971, you could have picked up a Datsun 510 two-door sedan–the Versa’s direct ancestor–for $1,990, according to Hemmings Sports & Exotic Car. That’s about $11,000 today.
Yet the 510 excels where it counts.
For one, the 510 is known as a great car to drive; Datsun used the BMW 1600 as a benchmark, after all. It was even raced by the likes of Paul Newman and Bob Sharp.
The simple styling has endeared this boxy Datsun to many, who view it as honest and, yes, cool.
The 510 is on its way to becoming one of the first truly collectible Japanese cars. Do you think collectors will pay attention to the Versa in 40 years?
Clearly, a cheap car can be cool. The Versa isn’t, which may be partly why Millennials don’t want to buy it and other cars like it.
Nissan itself seems to recognize this. At the 2013 Tokyo Motor Show, the Japanese automaker unveiled a pair of concept cars, the IDx Freeflow and IDx NISMO.
In its press materials for the IDx pair, Nissan said it involved Millennials in the design process, and found that they wanted a basic, more “authentic” car. Sounds a lot like the 510 to me.
A production IDx wouldn’t replace the Versa or any other entry-level Nissan, but hopefully the concepts will show that subjective qualities are just as important as practicality, fuel economy, or reliability.
If people are going to continue viewing their cars as more than just interchangeable appliances, carmakers have to give them a reason to.