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Thursday, September 11, 2014

Young people are driving less and buying fewer cars a trend that will continue

A while back I spent an afternoon talking with a team of future watchers from Toyota. They were touring the globe talking to people about the changing nature of the world and its impact on the types and volumes of cars that will be purchased.

To be honest, I think the trends are reasonably clear. No I am not talking about us all going around in driverless cars but the way younger people are kicking the car habit.

This data is for the US but I think it applies to much of Europe. Here are a couple of facts that give the tone of the research.

Vehicle miles driven shrunk by a quarter from 2001 to 2009 with young adults between the ages of 18 and 34 purchasing 30% fewer cars than they did in 2007. Yes, that did say thirty percent fewer cars.

By 2025, a quarter of people on the road will be over the age of 65.

So if you are a car manufacturer you have a few challenges. I wonder how many of them really understand the implications of what this change in car ownership will mean. From the lack of consideration that most manufactures give to the issues of physiological ageing I think the answer is a resounding NO. Dick Stroud

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