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Millennials & Driving
A Survey Commissioned by Zipcar
November 2010
22
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
33
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.
3
“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
4
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
5
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
6
Millennials are Choosing to Drive Less
45%
40%
31%
24%
Somewhat AgreeStrongly 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
7
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%
Somewhat AgreeStrongly Agree
Millennials Want Transportation Alternatives
8
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.
9
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%
Somewhat AgreeStrongly Agree
Cost Of Car Ownership A Key Barrier
10
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% Somewhat Agree
Strongly Agree
A New Way of Socializing
11
I want to protect the environment, so I drive less.
45%
39%
37%
42%
Somewhat AgreeStrongly Agree
Thinking Green, Driving Less

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Zipcar Millennials Survey

  • 1. Millennials & Driving A Survey Commissioned by Zipcar November 2010
  • 2. 22 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
  • 3. 33 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. 3 “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
  • 4. 4 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
  • 5. 5 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
  • 6. 6 Millennials are Choosing to Drive Less 45% 40% 31% 24% Somewhat AgreeStrongly 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
  • 7. 7 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% Somewhat AgreeStrongly Agree Millennials Want Transportation Alternatives
  • 8. 8 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.
  • 9. 9 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% Somewhat AgreeStrongly Agree Cost Of Car Ownership A Key Barrier
  • 10. 10 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% Somewhat Agree Strongly Agree A New Way of Socializing
  • 11. 11 I want to protect the environment, so I drive less. 45% 39% 37% 42% Somewhat AgreeStrongly Agree Thinking Green, Driving Less

Editor's Notes

  1. Sources: Department of Transportation Federal Highway Administration's National Household Travel Survey Census data