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Originally Posted by Number 3
I'm afraid we are witnessing the downfall of the importance of the automobile in our culture and society. Hat I've read is that essentially the millennial don't really want to own a car. They are hugely supportive of ride sharing and big proponents of self driving or autonomous vehicles. And as for coupes? Dying just like station wagons in the day. Muscle and performance cars? I think that is holding its own. The issue is the number of customers buying 4 and 6 cylinder pony cars. That number is dropping.
I just don't think the future bodes well for cars as an expression of self.
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Millennials like cars just fine. Currently, they're the biggest demographic in the US. Overtook baby boomers earlier this year.
The issue of millennials not buying cars was a combination of money and demand.
Turns out, when you're a 19 year old university student ... its basically impossible to afford a new car. If you do buy one, it probably isn't being bought with your own money. And there isn't much need for a car at that age either. But now, a sizable portion of millennials are in their mid 20s to early 30s. They're getting careers, not just jobs. With a bit of experience under their belt, they're getting better pay and more job security. And so they've finally started buying new cars. Because they're at a point in their life where they need a car to get for work, and that job allows them to commit to spending tens of thousands of dollars on it.