Generation Y Buying Fewer Cars, Driving Less
Young adults are buying fewer cars today than in the past. Recent research found that Americans between the ages of 21 and 34 purchased just 27 percent of new cars in 2010, down from 38 percent in 1985. One reason for the decline may be less income for younger people, but a driving force may be the need to prioritize expenditures for smart phones, Internet access, and computers. Young people may also be gravitating towards walkable communities, where cars are often optional.
To learn more: http://www.theatlantic.com/business/archive/2012/08/why-are-young-people-ditching-cars-for-smartphones/260801/