For City-Bound Millennials, The Car Is A Drag
Gen Y might reject automotive ownership because most of them dream of living in urban centers.
Jordan Weissmann over at The Atlantic has a great look at the automotive market and the difficulty it is having to engage them. The piece has gathered some of the key stats on the subject, including the decline of driving license ownership — let alone car ownership. There’s of course a section about financial uncertainty but what popped for PSFK was the data about how Gen Y might not want a car because most of them dream of living in cities. Weissmann writes:
Millennials are more likely than past generations to live in an urban community, and this may be part of what terrifies car markers. About 32 percent reside in cities, somewhat higher than the proportion of Generation X’ers or Baby Boomers who did when they were the same age, according to a 2009 Pew Research Center report. But as the Wall Street Journal reports, surveys have found that 88 percent want to live in an urban environment. When they’re forced to settle down in a suburb, they prefer communities like Bethesda, Maryland, or Arlington, Virginia, which feature plenty of walking distance restaurants, retail, and public transportation to nearby Washington, DC.