Phyron survey reveals stress of car buying for young people

Young people find the thought of buying a car more stressful than purchasing a home, according to a new survey.

The 2024 Consumer Attitudes to AI survey conducted by tech company Phyron also reveals that most individuals under 40 are increasingly open to AI (artificial intelligence) assistance, especially when it can reduce stress and save money.

The survey highlighted that the stress of buying a new car is so significant for young people that they are more likely to let AI handle the purchase than book their summer holiday.

Nearly half of those between the ages of 16 and 44 found shopping for an electric vehicle (EV) more stressful than buying a petrol or diesel car, indicating a need for expert help to ease the transition to EVs.

Moreover, one third of this age group would completely trust AI to purchase their next car if it ensured the best deal and avoided interaction with car salespeople.

However, this openness to AI assistance contrasts sharply with the opinions of older generations. Only 1 in 10 people over 55 would allow AI to help with a car purchase, highlighting a significant generational gap in the adoption of new technology.

"Car buying can be a very stressful experience, particularly for first-time buyers," said Johan Sundstrand, CEO and founder of Phyron.

"This survey shows that young people want help, especially when it comes to electric vehicles. They seem to trust AI technology more than salespeople. We’re approaching a time when AI can handle car purchases, saving time and money and eliminating the stress of making the wrong decision."

Phyron commissioned the survey to understand public opinion on adopting new AI technology and its potential to assist in everyday life.

"People want AI to take over mundane tasks, freeing up time and resources for activities they enjoy. We believe that’s something to be embraced," Sundstrand added.

Phyron’s AI technology creates car videos without human input and automates the advertising process on social media platforms. To date, these AI-generated videos have been viewed over half a billion times by car buyers worldwide.