Despite the rise of ride-sharing services, owning a car is still more appealing to American teens. This is according to a new study that found the vast majority of the Generation Z (Gen Z) is still fascinated with the freedom and convenience of owning and driving a car.
Fox Business reported that the said study, which was conducted by Ipsos for Autotrader and Kelley Blue Book, has asked the Gen Z about the importance of buying a car. Gen Z, comprised of young Americans ages 12-17, is considered as the next generation of car buyers.
Study results show that 92 percent of Gen Z owns or wants to own a car, and 72 percent of them would give up social media for a year in exchange of owning a car. Moreover, 97 percent of those surveyed shared that they already possess or are planning to have a driver's license.
The researchers also found that 29 percent of the respondents believe that car represents freedom, while 21 percent of them think it signifies convenience. Fully autonomous cars have more appeal to 54 percent of the respondents, while 61 percent of them want roads to be safer with self-driving vehicles.
Younger Gen Z members, those ages 12-15, picked Ford, Jeep, Honda and Chevrolet as their favorite brands. Meanwhile, older teens, ages 16-17, would prefer to own a Chevrolet, Ford, Honda or Toyota.
"The best news from this research is that auto sales are not going to take a hit because of this generation," said Isabelle Helms, vice president of research and market intelligence for Cox Automotive, the parent company of Autotrader and Kelley Blue Book. "In fact, it may prove to be quite the opposite. Their love for cars and driving is very much alive."
According to Michigan Live, the survey included 3,000 American respondents between 12 and 65 years old, in which almost 1,200 of them are Gen Z members. At present, Gen Z currently accounts 23 percent of the total population and is projected to reach about 80 million by 2020.
