EDIT: Young people forgo cars

The number of young Americans buying cars has dropped significantly, according to a CNN article.

Within the last five years, the “share of new cars purchased by those aged 18 through 34 has dropped 30 percent,” according to the CNN article.

It makes sense that young Americans would opt out of purchasing cars. Cars are expensive, and less young people are stably employed. Add massive student loans to the mix, and young people aren’t so willing to fork over the cash for a set of wheels.

Perhaps this is also a reflection of our country’s growing transportation system. Though everyone would agree that European public transportation is more advanced, ours still functions. There are more forms of public transportation in the U.S. now then there were several years ago, and this growth isn’t limited to the city. Now people living in the suburbs have access to trains or buses that take them from point A to point B. Cars are no longer as important or necessary as they once were.

That being said, the majority of jobs today are located in the city. Young people are less motivated to move out of the city and into the suburbs because their jobs are located in urban environments. Someone with an ultra urban lifestyle (a person who lives and works in the city), might not view a car as a necessity.

Finally, this statistic may reveal something about the efforts of environmentalists. Perhaps more young people are ditching cars for bikes or tennis shoes. A glimpse down any one of Boston’s major streets turns up crowded sidewalks and occupied bike lanes.

Looking forward, will the number of cars purchased by young Americans continue to drop? It would be interesting to see if the number of cars purchased by these Americans once they enter middle age will drop as well.