Sharing cars, self-driving cars, electric cars , sports cars, and modern cars. Not only the models but the future itself of cars are changing. Every year, a new model is being released in the market. Hence, old cars are no longer on the run for car buyers especially for the millennial. Millennials are always on the go for modern and newly released models. As such, vintage cars and other old cars being sold in auto auctions are being ignored now especially that the baby boomers are dying.
Today, it is fair and safe to say that the millennilas are taking over the consumer power. According to research, older generations such as the baby boomers are the main buyers in auto auctions. That being said, a lot of auto auction owners especially for vintage cars are worried that their business might fall down in the future. Millennials are not interested in auto auction because of their thinking that cars being sold in auto auctions are dirty, old, faulty and risky. Hence, it is not impossible for auto auctions and machinery auctions businesses to close down after the baby boomers stop buying cars and the millennia’s interests go to a different direction.
On a different note, buying a car is still a big decision. Considering the entirety of the market, there are still other people, most especially for those coming from the millennial generation who are still interested to buy in an auto auction. Different factors will still make the industry stay for a longer period of time. Some of these factors include the budget, the preference and needs of the customers. So regardless customers come from an older generation or not, they might still want to buy cars from auto auction considering all the benefits they can get from it.