News flash: Millennials do want to own cars
In case you were worried that Uber, ZipCar and other car sharing services meant that young people donêt want to own cars, fuggeda boudit! A recent survey by automotive supplier Continental Mobility found that U.S. consumers still want to own their vehicles. They just want them to have a lot more autonomy and connectivity features.
The survey showed that 84 percent of respondents age 16 to 25 believe driving is important, and 76 percent drive nearly every day. Industry experts anticipate 65 percent of millennials will buy vehicles in the next five years.
But cars need to become more intelligent, as well as send, receive and process information more quickly in digital formats, said Dr. Elmar Degenhart, chairman of the Continental Executive Board.
Survey respondents were especially interested in vehicles that can serve as Wi-Fi hot spots. In fact, 65 percent of respondents of all ages said they would like to own a car that could provide connectivity to allow mobile devices to use Internet-based services, such as music, video and other means of communication.Download Bulletin PDF