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its interesting when people try to counter overall statistics with their own personal experience. as if the fact that they see lots of kids with cars means anything if the overall numbers of kids with cars is clearly lower.
The fact that 'millennials' make up a fast declining proportion of the car-buying public has been bothering car makers for years, more so in recent years because all sales have been in the doldrums.
Marketing types have been wondering whether the recovery – when it came – would involve these people, and whether there was anything they could do to rekindle their interest.
I'm 24 and every one of my friends, without fail, either (1) has a car, (2) is working to make money to get a car; or (3) don't have one because their parents refuse to pay for driving school/other fees/signing off on things. This latter one is especially true for friends who are under 18. Walking, biking, taking the bus, and bumming rides doesn't appeal to anyone, on any level, as far as I can tell.
The number one hindrance is cost. Sky-high gas prices, insurance premiums, and a used car market that's been screwed up ever since cash for clunkers junked millions of good cars in running condition have all contributed to it being extremely expensive.
(Disclosure: I have two cars. I haven't taken any form of public transit since the day I turned 16. I was at the DMV on my 16th birthday. I had worked since 14 to save money for a car, and bought one almost immediately after getting my license.)
because were all broke or living in cities, usually both. Dropping coin on a new car just isn't high on the priorities list for most. Those of us who are car enthusiasts will buy them, but were also looking at used cars that have taken their huge depreciation hit, because they are A: nicer than what the same money could buy new, and b: usually not any more expensive other the time of ownership even without a warranty on them (depreciation of new cars balances out with the low depreciation of a used and it's maintenance over the same period of time, more or less). Just a little more risk going the used route, but it's worth it for some of the gems on the used market.
We (collectively as a nation) dismantled blue collar jobs over the last few decades. These young people can't get a real job that pays a living wage, so they can not afford to buy toys like a new car. It's really not that hard to understand. Car sales require having a middle class that buys cars. If young people can't afford their own place, they have no need to buy a new car. I'd be more concerned if they were continuing to buy cars that they clearly couldn't afford.
PS. It seemed to me this was relating to NEW cars. Most young people, to my knowledge, will buy an old beater if they get the chance.
We (collectively as a nation) dismantled blue collar jobs over the last few decades. These young people can't get a real job that pays a living wage, so they can not afford to buy toys like a new car. It's really not that hard to understand. Car sales require having a middle class that buys cars. If young people can't afford their own place, they have no need to buy a new car. I'd be more concerned if they were continuing to buy cars that they clearly couldn't afford.
PS. It seemed to me this was relating to NEW cars. Most young people, to my knowledge, will buy an old beater if they get the chance.
lurtsman--
I doubt I would ever buy a new car. Why would I want to take an $8,000 hit as soon as the car drives off the lot? I've always paid cash for my cars, always used. I don't even know how to finance a car. If I don't have the mechanical wherewithal to check for the car's problems, then I'll pay somebody $50 to do it for me. It's cheaper than getting hosed on a new car...
Once you learn to live without something it becomes pretty obvious just how much money you spend:
even if the car is bought was with cash there is insurance, maintenance, and gas.
Unprogram yourself and that money can go to that condominium and that lifestyle.
a crop of apples did not ripen. no job no house no kids no disposable income. dont need a car no place to go, bek sitting in mom and dad's living room where they have been sitting since they were born. independent people need cars. that is not who were are dealing with., the millinial people.
My friend's son is almost 17 now. He never wanted to get a car. He was content hanging out in his room day after day and playing some first person shooter game on his computer. However, once he turned 16, my friends insurance rates went up big time automatically since his son lives with him. So then he made his get his license and get a job, to pay for the increase, and anything else he makes over that he can keep.
My neighbor's son is just the opposite. Started mowing lawns at age 13 to save up for a car, bought one right after he turned 16, has a job, wants to make money so he can go out and have fun.
Unfortunately though, my neighbor's kid is one of the rare ones. There's a growing number of kids who don't want a car, or a job, or the responsibility that goes along with them.
Unfortunately though, my neighbor's kid is one of the rare ones. There's a growing number of kids who don't want a car, or a job, or the responsibility that goes along with them.
you think your parents didnt say the same thing when you were a kid? i feel like this is a standard old person complaint about the next generation that gets said about every generation.
I think the article did make one valid point: Today's parents are much more involved & (over-)protective of their teens than when I was growing up in the 80's and 90's. Back then kids were left to fend for themselves, finding their own modes of transportation, while today, parents seem to have more flexible work schedules to take late lunches or a couple hours off so they can schlep their children to lax practice or guitar lessons.
Moreover, I've noticed that here in California public universities have greatly expanded on-campus dorms & off-campus university-owned apartments in the past decade. UCLA and UC Irvine used to be known as commuter schools for SoCal residents, where kids would load up their classes on 2 or 3 days and drive in from home. They used to even have specially designated lounges & study halls for long-distance commuters! Today, nearly all undergrads either live on campus or in the surrounding neighborhoods. If you have an on-campus job you really don't even need to get your license until you've graduated.
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