This is bad news for the automotive industry: adults between the ages of 21 and 30 account for 7% less of the miles driven than the same age group did back in 1995. Compared to older drivers, this particular group of society, called “Generation Y”, considers cars a source of toxicity and smog; they even prefer alternative options to hybrid electric vehicles.
As a result, this group drives less and doesn’t own as many cars. Generation Y frequently utilizes alternative modes of transportation, such as mass transit or car-sharing. This causes a bit of concern for the auto-making industry, since this generation is the largest one to date and a substantial portion of the car-buying market.
Rather than purchasing vehicles today's youth puts its money into current technology, such as cell phones, digital music and software and uses commute time to increase productivity.
“It’s a matter of mind-set far more than affordability,” William Draves, president of Learning Resources Network, told Kiplinger.
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