Are Millennials Buying Cars? (Infographic)

car buying habits of millennials

The automotive industry had a big scare during the 2008-09 financial crisis, when many freshly graduated Millennials found themselves unemployed and drowning in student debt. The last thing 18 to 25-year-olds could afford to think about was buying a car. Auto makers feared that the Millennials would abandon the desire to purchase cars permanently, in favor of alternative methods of transportation; Uber, public transportation, or hitching a ride from mom.

Recent data proves that Millennials are indeed buying cars, and they are buying faster than ever. Today Millennials have over $200 billion in annual purchasing power, and they have officially surpassed baby boomers as the largest living generation. It’s time to stop fearing them. Let’s get to know them!


Cox Automotive

New York Daily News