Understanding Generation Z's Influence on the Future of Luxury Brands

Adapting to European Gen-Z: The Future of Luxury EVs Abstract: The goal of this research paper is to analyze and identify the perceptions and expectations of Gen Z regarding luxury cars and to provide luxury automotive OEM recommendations on how to possibly reach Gen Z consumers. The thesis provides a theoretical overview of concepts and theories related to the Gen Z cohort, its characteristics, consumer behavior, and the evolution of the luxury automotive OEM offering. This research paper relies on a qualitative approach, in-depth interviews with Gen Z consumers of European origins and automotive industry experts are combined to reveal Gen Z perception and Luxury EV development. The results of the data analysis are presented and discussed. The results of this study indicate that EVs are perceived positively by Gen Z consumers and that their sustainable and innovative attributes generate positive experiences through technology. While a set of luxury preferences appears shared with previous generations, Gen Z respondents seeked authentic luxury experiences and displays different lifestyle preferences.