Not your fathers Corolla: young buyers leave Japanese brands

Not your fathers Corolla: young buyers leave Japanese brands

Back in the day, Japanese cars were the province of the young, while their parents bought American. Now the situation is reversed, as young buyers are leaving Japanese brands and flocking to domestics – and even more so, to Koreans, says a new study by Edmunds.com.

U.S. automakers have burst onto the scene in recent years with small, fuel-efficient and affordable cars that really appeal to a young set of buyers, says Edmunds.com Senior Analyst Jessica Caldwell. But the Korean automakers have one more benefit: Theyre making credit available to young buyers who dont yet have a strong credit history.

From 2008 to 2012, the share of American brands bought by Americans age 25 to 34 rose from 35.4 percent to 36.8 percent, while Japanese share of younger buyers dropped from 50.6 percent to 42.9 percent. The Koreans share, though still small, rose rapidly, more than doubling its share to 10 percent.