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posted by cmn32480 on Tuesday September 13 2016, @11:38PM   Printer-friendly
from the too-damn-expensive dept.

Auto manufacturers today are scratching their heads, trying to figure out why the millennial generation has little-to-no interest in owning a car. What car makers are failing to see is that this generation's interests and priorities have been redefined in the last two decades, pushing cars to the side while must-have personal technology products take up the fast lane.

It's no secret the percentage of new vehicles sold to 18- to 34-year-olds has significantly dropped over the past few years. Many argue this is the result of a weak economy, that the idea of making a large car investment and getting into more debt on top of college loans is too daunting for them. But that's not the "driving" factor, especially considering that owning a smartphone or other mobile device, with its monthly fees of network access, data plan, insurance, and app services, is almost comparable to the monthly payments required when leasing a Honda Civic.
...
With recent studies showing a huge decline in auto sales among the millennial marketplace, it's no wonder auto manufacturers are in a mild state of panic, realizing they're missing out on a generation that wields $200 billion in purchasing power. Numbers don't lie, and over the last few years statistics have shown a significant drop in young people who own cars, as well as those with driver's licenses—and that decline continues among the youngest millennials, meaning this is not a trend that's going away anytime soon. From 2007 to 2011, the number of cars purchased by people aged 18 to 34, fell almost 30%, and according to a study from the AAA Foundation for Traffic Safety, only 44% of teens obtain a driver's license within the first year of becoming eligible and just half, 54% are licensed before turning 18. This is a major break with the past, considering how most teens of the two previous generations would race to the DMV for their license or permit on the day of their 16th birthday.


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  • (Score: 4, Interesting) by julian on Wednesday September 14 2016, @07:05AM

    by julian (6003) Subscriber Badge on Wednesday September 14 2016, @07:05AM (#401683)

    Millennials are less sexually active than previous generations. [washingtonpost.com]

    Some of us have written off that entire aspect of the human condition as an impractical and unnecessary distraction from other things that make us happy--and with less risk/cost. I realize I'm missing out on something, but that's true no matter what I do or how I spend my time. There's always something else you could be doing, dating and sex just aren't strong competitors anymore.

    And since there's no need to impress anyone, we don't need cars or our own place to live--not that we could afford them with our student debt.

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  • (Score: -1, Troll) by Anonymous Coward on Wednesday September 14 2016, @11:57AM

    by Anonymous Coward on Wednesday September 14 2016, @11:57AM (#401738)

    Congratulations! You have been awarded the coveted Rationalization Of The Year award.

    Don't try to mask your loserhood by mumbling about "other things".

  • (Score: 2) by Phoenix666 on Wednesday September 14 2016, @01:57PM

    by Phoenix666 (552) on Wednesday September 14 2016, @01:57PM (#401780) Journal

    Dye your hair blonde and move to East Asia. You'll do fine. It's not even hard, just teach English, or if that occupation is now flooded introduce some twist like "help you write winning essays for American university applications."

    --
    Washington DC delenda est.