Yes – Millennials are buying cars

Are they getting their license a little later – yes, some are.Are they on-board with ride share services? Yes – they’re cool with things that are largely en
Abled by mobile.

Do they prefer public transportation – yes, but really only if they live in the metro and your city has an extensive system.

So are they ever going to get in the car game? Yes, right now! And they’re quickly becoming the largest target consumer for auto dealers. A study, shared in this NBC News article and conducted by Princeton Survey Research Associates, found that about 24 percent of Millennials, aged 18 to 29, said they will buy a car sometime during the next 12 months. And that figure slipped to 20 percent of those between 30 and 49, and falls to 10% among those aged 50 to 64.

Millennials had been slow to take the wheel, but that’s not all that surprising. Coming of age in the recession really hampers your ability to buy something non-essential. And for a lot of youth, a car is non-essential. Public transportation, ride share, friends, folks, a bike or skateboard, or even one ofthese things – they’ve got alternative ways to get around. But things are changing. Marriage, kids and moving to the burbs for the upper life stage and a stable work environment for the lower life stage is a recipe for new additions to the garage.