Gen X and Gen Y consumers are more likely to switch tire brands when purchasing their first set of replacement tires. They’re also more receptive to brands outside the Big 3, according to the J.D. Power and Associates 2016 U.S. Original Equipment Tire Customer Satisfaction Study.
Large, established tire brands such as BF Goodrich, Bridgestone, Goodyear, and Michelin still have the highest consideration rates among all generations. However, Gen X (born 1965-1976) and Gen Y (born 1977-1994) consumers are more likely than Boomers (born 1946-1964) and Pre-Boomers (born before 1946) to consider smaller or newer U.S. market brands like Cooper, Hankook and Pirelli when replacing the OE tires on their vehicle.
Given the size of the U.S. passenger and light-truck tire market—nearly 300 million tires, with more than three-fourths of that coming from replacement tires—Gruber says manufacturers cannot afford to ignore younger consumers. Gen Y and Gen X combined accounted for 53% of new-vehicle retail sales in 2015, up from 50% in 2014.
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