While some reports have suggested that the younger generation isn’t jumping at the chance to own a vehicle, a new survey finds that’s just not true.
A study of 16 to 24-year-olds find that 92% of next generation car buyers either already own, or plan to buy a car. More specifically, 78% of 21-24-year-olds and 58% of 16 to 20-year-olds already own a vehicle, while of those who have licenses but don’t yet have cars, 61% plan on getting one as soon as they can afford it, while 19% expect to get one when they start their career.
When it comes to what car they will buy, price is the biggest factor (75%), followed by safety (74%), while 74% of the folks in this generation would likely buy an environmentally friendly car, as opposed to a fast one (26%). But one technological advancement folks in this generation seem skeptical about is the self-driving vehicle. Overall, 39% worry about self-driving technology, with only 25% thinking it will make the roads safer, and 42% concerned about driverless vehicles getting hacked.
Source: Yahoo Finance