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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: 2) by Runaway1956 on Wednesday September 14 2016, @05:28PM

    by Runaway1956 (2926) Subscriber Badge on Wednesday September 14 2016, @05:28PM (#401917) Journal

    The most recently purchased feature phone in my home cost $20US. Cheap, cheap, cheap. But, it's not the cost of the phone that makes cell service expensive. It's the monthly fee. I know, $45 or $55 monthly isn't a great deal - but it's a deal if you don't have reliable employment.

    Millenials often work two or three jobs, because the corporations aren't willing to put them on full time. That seems to be true, because several of the people I work with have second jobs. To them, it just seems natural to have two or more jobs.

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  • (Score: 2) by Wootery on Friday September 16 2016, @10:05AM

    by Wootery (2341) on Friday September 16 2016, @10:05AM (#402698)

    Is there no way to get a cheap, low-upkeep service?

    It's certainly possible here in the UK. Generally people go with contracts for high-consumption, and pay-as-you-go for low-consumption.

    • (Score: 2) by Runaway1956 on Friday September 16 2016, @02:42PM

      by Runaway1956 (2926) Subscriber Badge on Friday September 16 2016, @02:42PM (#402803) Journal

      If there is a cheaper service, I'm not aware of it. The first tier carriers want more than $100 US. The second tier carriers, like I use, start out around $40. The third tier carriers offer really cheap deals, but none of them cover my area. People further out in the boonies than I am certainly can't get those low rent deals.