Millennials & Driving: A Survey Commissioned by Zipcar
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Millennials & Driving: A Survey Commissioned by Zipcar

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Zipcar, Inc. (Nasdaq: ZIP), the world’s leading car-sharing network, released its second annual independent study of Millennials (18-34-year olds), which examines this generation’s attitudes ...

Zipcar, Inc. (Nasdaq: ZIP), the world’s leading car-sharing network, released its second annual independent study of Millennials (18-34-year olds), which examines this generation’s attitudes toward personal transportation and car ownership. The Zipcar membership base ranges in age from 18 to 80s; however, Millennials are an important segment for Zipcar, comprising more than half of all members. Millennials account for about 23 percent of the general population,
according to the 2010 US Census.

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Millennials & Driving: A Survey Commissioned by Zipcar Millennials & Driving: A Survey Commissioned by Zipcar Presentation Transcript

  • Millennials & DrivingA Survey Commissioned by ZipcarNovember 2011 [1]
  • Driving Deeper: The Millennials Survey  Online survey of 1,045 adults  Ages 18 and over, including 989 licensed drivers  Conducted between October 24 and 27, 2011  Break out by age segments • 18-34 years old: 294 drivers – Millennials • 35-44 years old: 220 drivers • 45-54 years old: 181 drivers • 55 years old or more: 292 drivers confidential 2
  • 2011 Key Findings  In 2011, Millennials embrace finding alternatives to driving to reduce their time on the road because high costs of car ownership, the environment and social networking.  In these tough economic times, Millennials would save the money from not owning a car rather than spend it.  Millennials welcome the collaborative consumption movement and are motivated to participate in sharing programs like car sharing because of potential savings they could accumulate for major milestones such as retirement, housing, and college tuition. confidential 3
  • Millennials are Choosing to Drive LessIn the past year, I have consciously made an effort to reduce how much I drive,and instead take public transportation, bike/walk or carpool when possible. % Agree 55% Ages 18-34 45% 61% Ages 35-44 40% 40% Ages 45-54 31% 33% Ages 55+ 25% Licensed Drivers 2011 Licensed Drivers 2010 confidential 4
  • Thinking Green, Driving LessI want to protect the environment, so I drive less. % Agree 55% Ages 18-34 45% 53% Ages 35-44 39% 44% Ages 45-54 37% 46% Ages 55+ 42% Licensed Drivers 2011 Licensed Drivers 2010 confidential 5
  • Millennials Want Transportation AlternativesIf there were more options in my area, such as public transportation, car sharingor convenient carpooling, I would drive less than I do now. (Licensed drivers only) % Agree 70% Ages 18-34 64% 59% Ages 35-44 55% 49% Ages 45-54 49% 37% Ages 55+ 41% Licensed Drivers 2011 Licensed Drivers 2010 confidential 6
  • Cost Of Car Ownership A Key BarrierIn today’s economy, it can be difficult to own a car because of the high cost ofgas, parking and maintenance. (Licensed drivers only) % Agree 78% Ages 18-34 80% 76% Ages 35-44 71% 78% Ages 45-54 76% 70% Ages 55+ 68% Licensed Drivers 2011 Licensed Drivers 2010 confidential 7
  • A New Way of SocializingWith access to social networking sites such as Facebook and Twitter, textmessaging and online gaming, I sometimes choose to spend time with friendsonline instead of driving to see them. (Licensed drivers only) % Agree 68% Ages 18-34 54% 55% Ages 35-44 46% 39% Ages 45-54 34% 24% Ages 55+ 18% Licensed Drivers 2011 Licensed Drivers 2010 confidential 8
  • Millennials Embrace Sharing Economy How likely are you to participate in each of the following sharing programs? (Licensed drivers only) 67% % Likely 57% 53% 49% 45% 43% 32% 27% 22% 18% 10% 11% Media sharing Car sharing Home or vacation programs programs sharing programsAsked only in 2011 18-34 years 35-44 years 45-54 years 55 years or more confidential 9
  • Millennials Share to Save And which of the following would motivate you most to participate in any sharing programs similar to the ones mentioned above? 40% (Licensed drivers only) 36% 33% 30% 20% 20% 18% 15% 14% 14% 12% 13% 11% 11% 8% 5% 6% 4% 2% 1% Saving for Paying off credit Being hassle free Protecting the Not sure retirement/home/coll.. card debt environmentAsked only in 2011 18-34 years 35-44 years 45-54 years 55 years or more confidential 10
  • Millennials Spend their Money WiselyAnd now imagine if you could save $6,000 a year by not owning a car, whatwould you most likely spend the money you save on? (Car owners only) 48% 50% 42%43% 24% 24% 21% 19% 15% 17% 14% 14% 13% 11% 11% 10% 7% 8% 6% 2% Saving the money Paying off credit Travel Paying-off school Buying a house card debt loans/other loansAsked only in 2011 18-34 years 35-44 years 45-54 years 55 years or more confidential 11
  • Key Findings Year Over Year (2010 over 2011)  More than half of Millennials, a higher proportion than last year, drive less because they want to protect the environment.  Nearly seven in 10, more than last year say that they sometimes talk to friends online instead of driving to see them.  Younger drivers remain the most committed to seeking alternatives to driving. confidential 12