I think a good way position this POV is...."we dont' have a love affair with cars, we have a love affair with connectivity". As soon as the car can fit into that part of value proposition it will move further up on the purchase list. Until that point, most people in our generation will not Love their car because its not a great enabler right now with respect to connectivity.
Over the next 3 years, as more of us come to market, we'll seek out vehicles that offer the maximum value. Not meaning price, but "bang for the buck" (for instance, I personally own a 2010 a4 and feel like I have the ultimate value). Out of all the OEMs vying for GenY's dollars, I believe Ford is in the best position to fulfill our value proposition. This is because of their upcoming MyFord technology, which will successfully integrate the technology that is important for our everyday lives into the vehicle. MyFord will maximize value for the GenY consumer, so it's up to Ford to continue building positive opinion in relation to their product quality / longevity to complete the equation and capitalize on this emerging market opportunity.
Last but not least, addressing the self image statement in the last paragraph here....
the idea that GenY will attempt to address self-image and emotional needs through a vehicle is slightly off. Our generation purchases products that represent our lifestyles, as opposed to the previous generation that did love cars and purchased to enhance self-image (think 1980's, I got a mustang, now I'm the cool kid on the block). The vehicle is no longer an enabler with regards to social acceptance. We don't need to drive to see friends, we have facebook. We don't need our vehicle to make us seem stylish/relevant, we have clothes, iphones and even virtual identities that hold more weight.
Gen-Y is not defined by what they drive, it is the individual's unique lifestyle / personality that defines the vehicles. (thus the affinity for integration of their lifestyle through personal customization)
...just my 2 cents :)