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Gonna pop open a bottle of champagne, man, when it's fully paid for! :shades:
2021 Kia Soul LX 6-speed stick
People tend to drive less during recessions, since fewer people are working (and commuting), and most are looking for ways to save money. But Phineas Baxandall, an author of the report and senior analyst for U.S. Pirg, said the changes preceded the recent recession and appeared to be part of a structural shift that is largely rooted in changing demographics, especially the rise of so-called millennials — today’s teenagers and twentysomethings. “Millennials aren’t driving cars,” he said."
Young Americans Lead Trend to Less Driving (NY Times)
Millennials Take the Wheel
"The recession does not appear to be the prime cause of the falloff in driving over the past eight years," it concluded.
Since the recession, Americans are driving fewer miles, on average, in all but a handful of states. The average Californian, for instance, cut his or her annual miles driven by 6.6% between 2005 and 2011, the report found.
When people don’t have jobs, they tend to drive a lot less. But the states with the biggest drops in driving don’t all have the biggest increases in unemployment, the analysis found."
Driving is down, and it's not just the economy, new study finds (LA Times)
"The average age of all light vehicles on the road climbed to 11.4 years in 2013, and an aging fleet will continue to force buyers back to the market next year," says Edmunds.com Chief Economist Dr. Lacey Plache. "With used car prices still elevated over past norms and used car supply still tight, the new car market will remain attractive to many of these buyers."
Edmunds.com Forecasts 16.4 Million New Car Sales in 2014
That's interesting isn't it? A few decades ago, if you drove a ten year old car, you might as well hang a neon "LOSER" sign on the roof---but now, most 10 year old cars look pretty darn good.