Gen Z buyers like used cars...
The fact that young people are not getting their license is just a symptom of the larger condition: The way new generations are approaching cars is changing, and the winners will be people who not only accept this, but anticipate and embrace it.
The concept of buying used cars used to be something that young new drivers would groan over, something their parents bought for them as a first car and way less "cool" than buying new. But we know that young people now really aren't that concerned with this anymore, partially because they're getting started with driving much later. While the price of buying a new car may not be worth it, the price point for getting pre-owned cars at a fraction of the cost is much more attractive to these younger generations
Founder at Denise K. Collier, Chief of Staff & Business Development
4yGeorge, I completely agree. My college age son Still does not have his license. And as I look at how he and his friends live, and what they value, I can’t imagine a one of them choosing a new car over a sensible used car along with a dependable and trustworthy buying experience. Shift is onto something Big.