As many of you may know already, car companies are not happy with the younger generations. Our brethren are resembling more of our grandparents and great-grandparents than our parents. We are trying to tighten up our spending, sharing what we can, and eliminating whatever we deem “unnecessary.”
Unfortunately for the likes of Ford, Toyota, GMA, and VW, that includes cars.
Yes, not only are our Gen Y colleagues putting off things like marriage and buying a home, but we are also more likely to own a car much later in life than the previous generation. Because of this, the ride-sharing phenomenon has been able to be more than a trend, but a worthwhile investment. That's why companies like ZipCar got picked up in a hurry, and companies like Lyft and Uber are seen as threats to cab companies.
Speaking of Lyft, this ride-sharing company is looking to attract more of those youngsters who have a little more cash to spare for a ride.
We all know Lyft as the car service with the fancy, fluffy mustaches on the grill of each car. Well, with a little more cash, not only will you be able to ditch the gaudy 'stache, but you'll also be introduced to a sleek line of Lyft Plus vehicles.
Nothing like a 'stache with that classy touch.
Lyft is doing this in order to compete with other premium services. It seems like a natural progression; some people do really enjoy the ride-sharing service, so why not see how much people are willing to pay for a premium one?
It makes sense to us.
This could be a great windfall for Lyft. This premium line opens up a market that was previously untapped by the company. Hopefully the service itself delivers too.
Dwayne W. Waite Jr. is partner and principal at JDW: The Charlotte Agency, a marketing and advertising shop in Charlotte, NC. He enjoys consumer behavior, economics, and football.
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