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Private vehicle ownership is projected to go down dramatically in the next decade, and it is not surprising it would happen under millennials’ watch. Millennials are considered a curious bunch on many levels, and they do not care about cars as much as older generations do. Millennials still do buy vehicles and take out auto loans like their parents and grandparents did. Although only 19% of young people would say no to ownership in favour of ridesharing – as featured in an infographic from Carsurance – there is no denying that the current generation of consumers noticeably have a different view of motoring. Below are the four real reasons why many millennials are not fascinated by private vehicle ownership.
