Saturday 22 October 2016
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Millennials Snatching Up Iconic Cars

Millennials Snatching Up Iconic Cars

Several discontinued vehicle models, including the Pontiac Aztek — well known for its spot atop many lists of the ugliest vehicles ever and for its role in AMC’s “Breaking Bad” TV series — are finding new life on the used-car market thanks to millennial buyers, an analysis found.

The Dodge Magnum station wagon, which Chrysler discontinued in 2008, had the highest rate of millennial car buyers of any used vehicle this year through June, an Edmunds study of Polk data released showed. About 28 percent of Magnum buyers were between ages 18 and 34, well above the industry average of 17 percent.

Other discontinued vehicles, including the Aztek (26 percent), Chrysler Pacifica (27 percent) and Chevrolet TrailBlazer (26 percent), also had a high rate of millennial sales. In fact, six of the top 10 used-vehicle models with the highest rate of millennial sales are no longer in production, Edmunds said.

Young people find themselves lured to the used passenger van segment more than any other, as about 20 percent of used van purchases this year through June were by millennials, the data showed. That’s compared with 17 percent of used sedans and 16 percent of used coupes.

The Aztek, despite getting panned for its looks, has proved popular among millennials. The Aztek had the sixth-highest share of millennial buyers of any car this year through June and has been among the 10 vehicles with the highest millennial share in four of the last five years.

Meanwhile, convertibles boast the smallest share of millennial used car buyers this year through June at 8.4 percent, by far the smallest share among segment types.

The convertibles segment joins pickups (16 percent), station wagon (16 percent), coupes (16 percent) and vans (13 percent) among segments that fall below the industry average for millennials’ share of used car sales.

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