Generation Z is not Interested in Owning Cars – What Can Automakers do to Change the Situation?

Generation Z is different from previous ones and a major difference is the fact that young people are not interested in owning things anymore. According to many 16-18 years old, their main priorities in life are not to own houses or cars, but to work and travel.

Automakers have to find a solution to survive

Sheryl Connelly works for Ford Motor Co and she is in charge of predicting how the new generation, aka. Generation Z, will use cars and other vehicles.

Many of the new generation believe owning a car is not a priority in life. They enjoy using bikes, cars, Lyft, buses and trains.

Connelly has so far understood that the new generation does not perceive owning a vehicle as a symbol of status. Even so, Ford does not feel intimidated and has found other business apart from car vending. Ford Motors Co. has started a bike sharing service, looking to sell them to those who are not interested in owning a car.

Big automakers such as Ford, Fiat Chrysler and General Motors are looking to use alternative solutions such as car-sharing, ride-hailing and self-driving.

Maven: the newest sharing app

General Motors (GM) has created a new car-sharing app, Maven, which is intended to target Gen Z and millennials. Peter Kosak is the executive director of urban mobility for Maven and he believes that this new brand will redefine the concept of car traveling.

Researchers have their own conclusions regarding Gen Z  

According to Susan Shaheen, a transportation researcher at the University of California, ride-sharing has become the norm for youngsters. Researchers have studies ride-sharing since the 90s and they do not believe it is only bad news.

The car industry believes that Gen Z might be experiencing the same thing as the millennials. Even though millennials declared that they are not interested in owning cars, the Associated Press noticed that last year they have stated to, and in big numbers.

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