Car Makers Trying To Attract Young Consumers Through Crowdfunding

The younger generation today is not as interested in cars as previous generations used to be. Cars makers are aware of that, and are trying to figure out what they can do to make young people more interested in owning a car and driving. They are investing a lot of time and resources in market research, in order to find out what this particular demographics wants in a car, and they are doing their best to try and cater to the needs of a typical young driver. That's why we are seeing increased efforts by the major players in auto industry for improving in-car connectivity, and making vehicles more affordable and more eco-friendly, which is what most young drivers care about nowadays.

In addition to these efforts, some companies are trying to help young people gather the money they need to buy a car, since they are aware that few of them can afford to make such a serious purchase, considering the poor job prospects they are facing and the high costs of owning a car.

Some of the world's biggest car makers have turned to crowdfunding to try and draw more younger buyers. It's a concept that allows multiple individuals to give small contributions to help another person collect the money they need to make a certain purchase or support a specific cause. Toyota, Chrysler, and Hyundai have embraced this idea and partnered up with some crowdfunding platforms.

Japanese car maker Toyota has started a partnership with Google, creating a project called "The Toyota Collaborator", that allows people interested in buying a Toyota to discuss and exchange opinions with their friends about a specific model, specifications, as well as prices, which can help them make an informed decision and choose a car that matches their needs.

Additionally, Collaborator allows people to choose the car's wheels, exterior color, interior materials, and several other features, and see what it would look like with the features they have chosen. Also, you can take the car for a virtual test ride using Google Street View. All this gives consumers the opportunity to be more involved in the car-buying process and customize their vehicles, which is very important to today's young drivers. They can use Collaborator to schedule a test drive and ask Toyota dealers questions about a car's specifications and payment options. This way, Toyota want to appeal to people in their 20s and 30s, which are an extremely important demographics, not just for them, but for all car makers.

Another Japanese car manufacturer, Hyundai, is trying to do something similar through its partnership with Motozuma.com, in order to help young consumers gather enough money to make a down payment. Friends and family of users that are registered on this online platform can donate their contributions, which are later matched by Hyundai, dollar for dollar. The company has said that it has been able to sell 1,600 cars this way, which it considers to be quite a success.

Jordan Perch is an automotive fanatic and "safe driving" specialist. A regular contributor to DMV.com, a collaborative community designed to help US drivers".