#6. Crave a New Car
Young Americans are actually buying fewer cars — and fewer even have licenses — now than a decade ago. And there are several reasons for this, including cost, priorities, migration. More and more people are moving to cities where public transportation is an option, plus more and more would prefer to spend money on a smartphone than on a new ride.
Plus, a tough economy in recent years has meant that fewer families could afford to lay down the cash needed — so they’re finding ways to adapt.
That’s not to say the death of the automobile in imminent — unless, of course jetpacks and teleportation indeed (I hope!) get invented soon.
But even the cars that remain on the road are getting smaller and smarter. Increasingly popular hybrid vehicles, like the Toyota (NYSE:TM) Prius, could also play a role in the transportation trend for future generations, while the days of bulky Ford (NYSE:F) pickups could come to a close.
The bottom line: Car culture is shifting.
Companies like General Motors (NYSE:GM) have taken note of this and are trying to lure the youth of America back behind the wheel. But it has a lot of work ahead to reverse the trend and have tomorrow’s teenagers itching to get a ride of their own.