Where to for the car industry
I remember only too well turning 16 and 9 months. My widowed Mother couldn’t afford a car so I was busting to get my driver’s license – driving was a long held dream and I started restoring a derelict Austin 7. But today the desire of young people the world over to get a license and own a car is waning. A recent German article suggests many young people there are now more inclined to use a car sharing option than own their own vehicle – the number of Germans under 25 getting driving licenses has slid 28 per cent in the last decade and it’s no different in many countries. Especially in inner city living where many young people are ditching car ownership and taking one of the growing carsharing options when they need a set of wheels. Excessive traffic and high ownership costs mean many pundits now believe car sales will soon plateau before making a swift descent going forward. Certainly, one to watch.
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