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May 26, 2012
@ 12:40 pm
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Why Don’t Young Americans Buy Cars

Surprise surprise, I’m pulling another article from Atlantic Cities.  This article titled “Why Don’t Young Americans Buy Cars?” is exactly about that.  The question is whether Millennials’ lack of purchasing automobiles is due to current economic woes; a greater interest in purchasing smartphones, videogames and other consumer products; or if it’s a growing trend among younger Americans that will continue?  

The auto industry really hopes it’s not the ladder, but I hope it is considering my obvious dislike of a car dominate culture.  Whichever it is automobile sales are likely to stay low (or at least lower than they were for previous generations) among this age group for the foreseeable future considering that 32 percent of Millennials live in cities where cars are much less of a necessity than they are in the ‘burbs .  America is becoming more and more urbanized and more people (especially young people) are opting to live in cities that offer walkability, which means less and less car ownership, and I don’t see this changing anytime soon. 

So even as our generation gets older, starts making more money and some start to move back to the suburbs, where they will need cars, auto sales will still most likely be less than they were for Baby Boomers and Generation X because a greater proportion of Millennials will remain in cities while the next generation of young people move into cities as well.