The auto industry says it’s concerned that financially pressed young people who connect online instead of in person could hold down peak demand by 2 million units each year.
The rate of U.S. auto sales to 18-to-34-year-old buyers declined to 11 percent in April 2012, down from 17 percent for the same age group in April 2007, before the recession, according to Southfield, Michigan-based R.L. Polk & Co.
4G trumps V-8 for the 80 million U.S. consumers born from 1981 to 2001, according to Deloitte LLP. Though the car is still a gateway to independence, Generation Y has more ways to connect with the outside world than young buyers of past generations.
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