Kristin Murphy, Deseret News
New car purchases are down 30 percent over the past 5 years among 18 to 30-year-olds, according to CNN.
While some blame the economy for this trend, many factors such as higher availability of public transportation, the rise of social media and stricter regulations on driving could be downplaying the importance of car ownership, according to CNN.
"With this generation, what owning a car means is completely different from previous generations," Annalisa Bluhm, a spokeswoman for General Motors told CNN. "It was a rite of passage. Now the right of passage is a cell phone."
While some car companies worry over this trend, some believe the statistic misrepresents what is really happening.
Michelle Krebs, an analyst at Edmunds.com, a website for purchasing cars, told CNN that more young people are buying used vehicles or driving their parents’ cars.
- Lawmakers looking to pump up gas tax this...
- Are you part of the global 'baby shortage'?
- Nintendo opens 2015 with some big announcements
- Kimberly Rotter: 7 weird things that affect...
- What's in a name? At Grand Canyon, history,...
- Knocking doors: What to know before signing...
- Randy Shumway: The winners and losers of...
- Another study lists Salt Lake as one of the...
- Lawmakers looking to pump up gas tax... 21
- EPA inventory highlights 'toxic'... 20
- Analysis: Obama seizes on recovery,... 17
- Obama's proposed mandatory paid... 13
- Utah has fourth largest gender wage... 12
- Are you part of the global 'baby... 12
- Another study lists Salt Lake as one of... 10
- Survey ranks Utah's best and worst... 9