Almost half of all 18 to 34-year-old drivers are driving less, and nearly two-thirds would drive less if alternative transportation options were available, according to an independent study commissioned by Zipcar, Inc., the world's largest car sharing service. The study of licensed drivers conducted in October by KRC Research revealed that 45 percent of Millennials (ages 18 to 34) said they had consciously made an effort to reduce how much they drive, and 64 percent would drive less if alternative options including public transportation, car sharing or convenient carpooling (ridesharing) were available in their area.
Text of Zipcar Millennials Survey
Millennials & DrivingA Survey Commissioned by ZipcarNovember 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