Young Adults Aren’t Buying Many Cars

Young adults are driving less, according to CNN Money. More to the point, they’re buying fewer cars.

CNN says, “The share of new cars purchased by those aged 18-34 dropped 30 percent in the last five years, according to the car shopping web site Edmunds.com.”

Why? Lack of money. Urban living along with car-on-demand services like Zipcar. And the Internet…

Couple that with recent restrictions on driving – later ages for licenses, limits on how many people can be in the car, restrictions on cell phone use – and the Internet may be surpassing the automobile in the category that gave cars so much appeal: freedom.

A Deloitte study the article cites finds nearly half of 18- to 24-year-olds would rather have Internet access than a car.

Sign up for our free newsletter

Like this article? Sign up for our newsletter and we'll send you a regular digest of our newest stories, full of money saving tips and advice, free! We'll also email you a PDF of Stacy Johnson's "205 Ways to Save Money" as soon as you've subscribed. It's full of great tips that'll help you save a ton of extra cash. It doesn't cost a dime, so why wait? Click here to sign up now.

Check out our hottest deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,238 more deals!

Comments & discussion

We welcome your opinions, but let’s keep it civil. Like many businesses, we reserve the right to refuse service to anyone. In our case, that means those who communicate by name-calling, racism, using words designed to hurt others or generally acting like an uninformed bully. Also, comments that include links to email addresses or commercial websites typically aren't posted. This isn't a place to advertise your business.