Millennials want to drive less due to car costs, social media

Nov. 23, 2010

Nov. 23, 2010—More than half of 18- to 34-year-old drivers are driving less than the previous generation and two-thirds would drive less if alternative transportation options were available, according to a Zipcar Inc. press release_notes.

The millennial generation, 18- to 34-year-olds, said the reason for wanting to drive less is the cost of car ownership. Gas, car payments, insurance and maintenance were all factors given as major costs. Sixty-seven percent of drivers between ages 25 and 34 said they would drive less if they could use public transportation, carpool or share a car, according to the study conducted by KRC Research.

Social media is also a factor is decreased driving. More than half of Millennials said they would rather spend time in social networks with friends instead of driving to visit them, compared to 46 percent for 35- to 44-year olds. Forty-five percent of Millennials also said they would drive less to help the environment, compared to 39 percent of 35- to 44-year-olds and 37 percent of 45- to 54-year-olds.

"Millennials recognize the limited value of paying so much for something they use so little. They want the freedom to drive, but reject the financial burden of car ownership," said Scott Griffith, chairman and CEO of Zipcar. "We believe this study confirms what many people are saying about collaborative consumption as a new economic model—that new technologies and services make it possible to have access without ownership."

For more information, go to slideshare.net.

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