Jan 9, 2020
Topic - The love affair with cars. The kids aren’t buying it.
For Generation Z, born after 1997, cars don’t excite them as much as previous generations. Why? Because the Gen Z’s are loaded with student debt, they’re moving into cities and there are other options for getting around. The percentage of teen drivers has been sliding for the past few decades. Many young people are delaying buying their first car. Insurance, maintenance and the cost of driver’s education are all steep, causing Gen Z to buy 120,000 fewer cars this year than millennials when they started driving. Ride-sharing options, plus digital devices to socialize from home non-stop and the fact that new car prices are just ridiculously high make them shy away from owning their cars. The ripple effect in Detroit is making the Motor City change its mind about the kinds of cars to offer the coming generations.