#reports

People love generational studies. The notion that being born a few years away from another person creates a disparate, irreconcilable identity is an appealing one and is, to some extent, backed by plausible evidence. After all, growing up in 1975 was different than growing up in 2005. However, when exactly those subtle differences surface to an extent where they can be measured is debatable.

That’s why I was so intrigued by a recent study indicating that Generation Z will be “nothing like their Millennial predecessors” when it comes to financing automobiles and purchasing automotive insurance. Members of Generation Z currently run between the ages of five and 21. So, how exactly will your five-year-old go about procuring coverage or a loan for their first automobile?

INRIX Research, which compiles automotive data for automakers and state agencies, is claiming Americans waste 73 billion dollars every year trying to find and hold a parking space. Following a survey of nearly 6,000 drivers in 10 U.S. cities, INRIX concluded the average driver suffers an average of 17 hours and $345 worth of wasted time, fuel, and emissions.

While that sounds ridiculous, a 2017 national survey from the United Kingdom’s Department of Transport claimed average British drivers waste four days of their lives every year doing the same thing. The number was twice as high for city-based residents. Perhaps 17 annual hours is a little more reasonable than it initially seemed.

There has been plenty of doomsday prophecies surrounding the automotive industry in the last year, based largely upon the assumption that younger drivers are less willing to support it or simply cannot afford to. Stupid, right? Not really. While the direness of the situation is often exaggerated, plenty of evidence exists to underscore the impending troubles of the new car market. Whether it’s because those in their salad days don’t care as much about cars as their elders or simply have less disposable income (hint: it’s the second one), real change is coming for OEMs.

Younger shoppers are noticeably more likely to purchase used vehicles than their more venerable contemporaries are, but “young” is a relative term — especially in this instance. According to a recent study, 53.7 percent of prospective buyers under forty plan on getting a used car the next time they need wheels. For those over forty, that number is 49.7 percent. As you’d expect older people to buy more new cars, this much of a disparity at mid-life is significant.

The life expectancy of the average automobile was only 6.75 years in 1930. It is almost double that now and shows no signs of stopping.

As cars and trucks have continued to become longer lived, the number of operational vehicles in the United States hit a record high this year. Despite the automotive genocide that was Cash for Clunkers, the average vehicle on U.S. roads has grown in age since the financial crisis. Either through necessity or personal preference, Americans are currently holding onto their cars longer than ever before.

Nearly 30 percent of buyers who purchase a Honda CR-V, Toyota RAV4 or Prius car will keep that car for more than 10 years, according to data from iSeeCars.com.

Data from 400,000 car purchases was analyzed for the poll, according to the study group. The industry average for owners keeping their cars 10 years or longer was 13.5 percent.

Of those top 15 vehicles whose buyers keep them longer than a decade, nine of them were Toyotas; 5 were made by Honda. The Honda CR-V was tops at 28.6 percent of buyers who kept that car for 10 years or more.

Last Friday, the U.S. Transportation Department’s Office of Inspector General dropped the sledgehammer on the NHTSA over its failings in automotive safety.

A year after General Motors went under the gun for its part of the February 2014 ignition recall crisis, the NHTSA is now facing the music for the rest.

Per a report from Barclays, U.S. new-car sales may fall as much as 40 percent over the next 25 years as shared autonomous vehicles take hold of the market.

Those hoping for a return to $100 per barrel of oil are in for a long wait, as OPEC says oil will remain below the price point through the 2020s.

Memorial Day 2015 will see the highest volume of travel in a decade as 37.2 million Americans hit the road to begin their summer season.

China may be a hotbed for automakers to bring in their latest and greatest, but exports of its automotive wares aren’t as hot these days.

A new report by the Government Accountability Office says the Bureau of Land Management has yet to revise standards over natural gas, costing taxpayers.

In a hurry to trade your new Buick Regal for something else? You’re not alone, as the sedan joins a handful of models traded-in after a year of ownership.

Millennials giving up on cars? Not according to a recent J.D. Power study.

With fuller wallets and lower prices at the pump, millennials are leading the charge toward the highest consumption among Americans since 2007.