Young Adults Aren’t Buying Many Cars

The Internet and walkable urban areas have reduced the need for car ownership. Plus, young people are poor.


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.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. Take 5 seconds and join our family by clicking here. You'll be glad you did. I guarantee it!

More Money Talks News

Comments

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 2,092 more deals!