It seems millennials like cars just as much as their older brethren.
Despite being pegged as the generation that shuns owning a car, millennials appear to like buying autos more than their Generation X counterparts did when they were younger.
Consumers, ages 21 through 34, are taking out new auto loans at a 21 percent higher rate than Gen X borrowers did when they were that age, according to a study released Wednesday by TransUnion.
“Unless you live in a place where public transportation is effective and convenient, you still need a car,” said Ezra Becker, senior vice president of global research and consulting for Chicago-based TransUnion. Read More Here:
Today’s world is driven by technology frenzy and dominated by the tech-savvy people born during the early 1980s to early 2000s, referred mostly to as the millennials. The Millennials are used to getting tasks done by exploiting technology and very often are seen to be lazy with the penchant for easy living.
Millennials are ow responsible for 29.7 percent of the new cars sold in North America by Michael Gauthier by Michael Gauthier Millennials are often portrayed as lazy people who hate cars, but that couldn’t be further from the truth. Millennials are now affecting the classic car market and are about to have a big impact on luxury models.
Millennial travelers are looking for a wheely good time. Recreational vehicle travel isn’t just for retirees touring the country in the comfort of their own motorhomes anymore.