Millennials are often viewed as “game changers” in the auto industry. Over the next 10 years, it’s anticipated that 40% of new cars sold will be purchased by Gen Y consumers. That’s assuming Gen Y consumers actually wind up owning cars at all. Perhaps that’s not the safest assumption to make.
Last year, the average U.S. household paid $4,155 gassing up their cars, and when gas, insurance, depreciation, vehicle payments, and other expenses are tallied up, the average car costs $8,776 annually. These costs will only increase now that prices for gas and new cars have risen substantially. There’s an obvious alternative to owning a car—not [...]
Soaring gas prices should be equating to free marketing for energy-efficient plug-in vehicles like the Nissan Leaf and the Chevy Volt. The higher prices are at the pump, after all, the more a driver stands to save by using a car that requires little or no gasoline. Even so, sales of these vehicles remain dismal. [...]
One year after car-sharing service Zipcar was introduced in Baltimore, the company conducted a survey to find out what life on the road has been like since members joined the program. The results are probably what you’d expect—folks are in cars less, much less likely to buy cars, and more likely to walk, bike, and [...]
For thoughtful, insightful answers—or at least discussions with some funny comments—about these and other pressing consumer issues, here’s a roundup of recent posts and stories. The list even includes a special bonus question: What’s the difference between a collection and junk?
Back-to-back stories in the NY Times point out two interesting trends in the automobile market. First, brand loyalty is long gone. Second, for many consumers, the car itself is gone as well.
