It's no secret auto sales have been down compared to the pre-recession numbers, and many are blaming this on a down economy. However, a new study suggests that there may be fewer car buyers permanently, as the current generation is largely indifferent about cars.
The consulting firm AlixPartners recently completed a study that shows there are 5 million fewer potential car-buyers today than there were five years ago, reports USA Today. Part of this is due to some car buyers not in an economic position to purchase a car, whereas they might have been previously. However, the research also suggests that younger drivers may simply not be all that interested in vehicles.
"The American auto industry is about to see the rise of Generation 'N' – as in 'neutral about driving,'" said Mark Wakefield, a director in AlixPartners' automotive division. "This cohort, which is as big as the Baby Boomer cohort and which grew up on the Internet and not so much on cars, could well present the industry with an even greater challenge in the area of reduced fundamental demand."
While younger drivers may be indifferent about buying new vehicles, they should not be neutral when it comes to vehicle maintenance. Keeping up with brake service and car tune ups can help drivers avoid having to buy new cars as often as they do.