Korean, U.S. Carmakers Attracting Young Buyers

American and South Korean car brands are gaining favor with younger buyers in the U.S. at the expense of Japanese marques, according to Edmunds.com and R.L. Polk & Co.

Detroit makes accounted for almost 37% of new vehicles registered by consumers aged 25-34 last year compared with 35.4% in 2008, Polk reports. U.S. marques are appealing to younger buyers with an attractive array of fuel efficient and affordable small cars, Edmunds notes.

From 2008 to 2012, South Korean makes than doubled their share to just over 10% among buyers aged 25-34. That country's automakers are building cars suited to Gen X and Gen Y consumers, according to Edmunds. The online auto data provider says those companies also make credit available to young buyers who don't yet have a credit history.

Over the same four-year period, Japanese brands lost ground with consumers in every age cohort from 2008 to 2012, except those 75 and older. They captured 42.9% of buyers aged 25-34, down nearly 8 points their share in 2008.

European marques boosted share with 25- to 34-year-olds by only 1 point to nearly 10%. But their biggest increases came from older customers.