"Millennials are changing not just what we want to drive, but how we drive and how we shop for cars," said Joan Sinopoli, vice president of brand solutions at The Harris Poll. "While maybe not a full-blown romance, the flirtation with cars as part of our culture is alive and well with younger generations. Millennials aspire to luxury, and this is nowhere more evident than in the automotive industry, where they are behind Mercedes-Benz's equity strength."  

According to Harris Poll's research, seven of the top ten millennial car brands are luxury brands, versus five each for Generation X and baby boomers. Mercedes-Benz boasts an equity score of 73 among millennials, compared to an equity rating of 66 among consumers overall. Aspiration, however, outpaces ownership as millennials are much less likely to actually own luxury cars than older generations.

Measuring brand health over time, the EquiTrend Brand Equity Index is comprised of three factors -- Familiarity, Quality and Purchase Consideration¾that result in a brand equity rating for each brand. Brands ranking highest in equity receive the Harris Poll EquiTrend "Brand of the Year" award for their respective categories. This year, more than 100,000 U.S. consumers assessed more than 4,000 brands across more than 450 categories. The full Harris Poll EquiTrend Brands of the Year list can be found at http://www.theharrispoll.com/equitrend-rankings/2017.

How They Drive:  Millennials Jam to Beats
Fueled by younger generations, car audio equity is on the rise, up nearly 2 equity points since 2016. Beats rose 12 equity points to succeed Bose, which has held the Car Audio Brand of the Year title for the past five years. Harris Poll's research indicates that millennials may be behind Beats' success -- 33 percent of millennials are familiar with Beats, compared to 17 percent of consumers overall.

"Millennials are extremely familiar with, and think highly of both brands, but they may more strongly associate Beats with mobility whereas they associate Bose (Home Entertainment Electronics Brand of the Year) with high quality sound in-and-around the home," said Sinopoli.

While not an award category this year, OEM infotainment equity is increasing year-over-year, with evidence pointing to millennials impacting the category's growth.

"With the growth in car audio and infotainment equity, we see cars not-so-gradually changing from a durable to a true lifestyle purchase, a mobile business and entertainment hub," said Sinopoli.

How They Shop:  Millennials Discover CarGurus
CarGurus.com makes its debut as Online Auto Shopping Brand of the Year, jumping seven equity points and squeaking past KBB.com, which held the title since 2012.

"There is a storm brewing when it comes to how consumers shop for cars," said Sinopoli. "KBB is an incredibly strong brand, but CarGurus has touched millennials in a more relevant way.  Besides the irreverent name, CarGurus' landing page boasts great deals, great dealers, transparency, and a powerful search engine. Add that to Instant Market Value with their deal ratings, and it's a compelling promise to a young car buyer -- or dreamer."  

While KBB.com is equally well known across generations, 25 percent of millennials are familiar with CarGurus.com, compared to 16 percent of consumers overall. Familiarity is one of the three main factors determining brand equity, and Harris Poll's study suggests that those who know CarGurus know them very well.

"Consumers familiar with the brand think as highly of CarGurus as they do the legendary KBB, suggesting they might be a 'fan brand' in the making, like Five Guys several years ago," said Sinopoli.

Other Key Findings
Additional auto findings include:

• While Lincoln's brand equity remains below the Luxury Auto category average, the automaker's brand equity increased significantly (3.4 points) since 2014, coinciding with Lincoln's commercials featuring actor Matthew McConaughey. Comparing generations, the brand's equity is highest among millennials. Since 2013, Lincoln's brand equity has increased 6 points.

• Subaru is the clear fast riser in the Non-Luxury Auto category. In fifth place this year, Subaru builds on its equity as the brand focuses on its SUV/Crossover roots and continues its Love campaign.

• Tesla has been the top momentum auto brand for the last four years. While it still has a way to go to compete with top car brands in equity, its strong momentum places it among the new "next big thing" home automation brands, second only to Amazon Echo.

• Volkswagen's equity is showing slow signs of recovery after its emissions scandal, but the automaker continues to struggle on the brand momentum scale, with 35 percent of consumers considering the brand "on the way down."

The Harris Poll 2017 EquiTrend Luxury Automotive Brand of the Year

Other Luxury Automotive Brands in the study ranked below category average (alphabetically): Acura, Audi, Cadillac, Infiniti, Jaguar, Land Rover, Lincoln, Tesla, Volvo.

The Harris Poll 2017 EquiTrend Non-Luxury Automotive Brand of the Year

Other Non-Luxury Automotive Brands in the study ranked below category average (alphabetically): Buick, Chrysler, Dodge, Fiat, Hyundai, Jeep, Kia, MINI Cooper, Mitsubishi, Ram, Volkswagen

The Harris Poll 2017 EquiTrend Tire Brand of the Year

Other Tire Brands in the study ranked below category average (alphabetically): Continental, Dunlop, Firestone, General, Hankook, Kelly, Kumho, Uniroyal, Yokohama

The Harris Poll 2017 EquiTrend Car Audio Brand of the Year

Other Car Audio Brands in the study ranked below category average (alphabetically): Alpine, Boston Acoustics, Clarion, Infinity, JBL, Panasonic, Sony

The Harris Poll 2017 EquiTrend Online Auto Shopping Brand of the Year