Zipcar Millennials Survey

Millennials & Driving A Survey Commissioned by Zipcar November 2010

Millennials Hit Hard by Recession “ Generation Y's steep financial hurdles: Huge debt, no savings”
About 37% of 18- to 29-year-olds have been underemployed or out of work during the recession, the highest share among the age group in more than three decades.
Only 58% of millennials pay monthly bills on time
60% of workers 20 to 29 years old cashed out their 401(k) retirement plans
Nearly 70% of Gen Y members are not building up a cash cushion, and 43% are amassing too much credit card debt
Millennials are graduating from college with an average of $23,200 in student debt
This generation is the least likely of any to be covered by health insurance. Just 61% say they were covered by some form of a health plan,
USA TODAY article: http://www.usatoday.com/money/economy/2010-04-23-1Ageny23_CV_N.htm

Millennials Driving Decline of the Car Culture
The share of automobile miles driven by people aged 21 to 30 in the U.S. fell to 13.7% in 2009 from 18.3% in 2001 and 20.8% in 1995
The proportion of people aged 21-30 actually increased from 13.3% to 13.9%,
So 20-somethings went from driving a disproportionate amount of the nation's highway miles in 1995 to under-indexing for driving in 2009.
“ Is Digital Revolution Driving Decline in U.S. Car Culture?” Sources: Department of Transportation Federal Highway Administration's National Household Travel Survey Census data Article: http://adage.com/digital/article?article_id=144155

Driving Deeper: The Millennials Survey
Online survey of 1,025 adults
Ages 18 and over, including 966 licensed drivers
Conducted between October 7 and 11, 2010
Break out by age segments
18-34 years old: 287 drivers – Millennials
35-44 years old: 218 drivers
45-54 years old: 178 drivers
55 years old or more: 283 drivers

Key Findings
Millennials are consciously deciding to drive less
A majority of millennials would reduce the amount of time they currently drive if alternative transportation options were available to them today
The high cost of car ownership is making it difficult for millennials to own a car

Millennials are Choosing to Drive Less 45% 40% 31% 24% Strongly Agree In 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 Somewhat Agree

If there were more options in my area, such as public transportation, car sharing or convenient carpooling, I would drive less than I do now. 64% 55% 49% 41% Strongly Agree Millennials Want Transportation Alternatives Somewhat Agree

If there were more options in my area, such as public transportation, car sharing or convenient carpooling, I would drive less than I do now. Millennials Want Transportation Alternatives 67% 64% Among post-college Millennials fully 67% would drive less if there were viable transportation alternatives.

In today’s economy, it can be difficult to own a car because of the high cost of gas, parking and maintenance. 80% 71% 76% 68% Strongly Agree Cost Of Car Ownership A Key Barrier Somewhat Agree

With access to social networking sites such as Facebook and Twitter, text messaging and online gaming, I sometimes choose to spend time with friends online instead of driving to see them. 54% 46% 34% 18% Strongly Agree A New Way of Socializing Somewhat Agree

I want to protect the environment, so I drive less. 45% 39% 37% 42% Strongly Agree Thinking Green, Driving Less Somewhat Agree

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Zipcar Millennials Survey

by colleenmccormick on Nov 22, 2010

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Zipcar Millennials Survey — Presentation Transcript