Department for Transportation report highlights 'peak car' threat to vehicle sales

The rejection of automobile ownership is most likely to end up being the "new norm" according to a government report which has actually highlighted the falling variety of teens getting behind the wheel.A change in living situations was highlighted as the reason for a 40% decline, over 2 decades, in the variety of teenagers taking their driving test, as the Department for Transportation released proof that Britain may have reached a state of "peak cars and truck".

The report, released by the DfT yesterday stated that it was hard to envisage a return to previously seen high volumes of cars and truck use as an increasing variety of people took to the web to hang out and do business.According to the study, assembled by the University of the West of England in Bristol and the University of Oxford young men aged 17 to 29 spend 80 minutes more in your home in 2014 compared to 1995, with females increasing their time in the house by an average of 40 minutes over the same period.The variety of youths with a driving licence, meanwhile, peaked in 1992 to 1994, when 48% of 17 to 24-year-olds held the qualification.

The Times paper reported that the 2 universities had actually concluded that young individuals had "ended up being accustomed to a way of life where private cars and truck usage is less main than it has actually been for previous generations".

James Hind, president of carwow, thinks that the desire to own an automobile stays really much alive, and now exists in a somewhat older generation of possible consumer.Hind added:"It

's critical that dealers and makers tap into the way young customers wish to go shopping-- when they are prepared to.

"More youthful consumers want a digital-first experience, so they can select the automobile they want at a price that's right for them-- from the comfort of their screen. They value suggestions from their peers, so it's essential that dealerships on the forecourt are viewed as a specialist they can rely on, and who provide a service the customer wants to advise.

"And most importantly they likewise require an inexpensive route into the market. According to our research, nine in ten of Millennials-- the so-called 'Generation Lease'-- never ever anticipate to own a house or car in their lifetime, for that reason promotion of alternative funding options is essential."

Source

https://www.am-online.com/news/market-insight/2018/01/25/department-for-transport-report-highlights-peak-car-threat-to-vehicle-sales

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