![]() Unlike earlier generations, today’s seniors “are refusing to follow their parents’ lead and go quietly into the car-buying night,” according to a 2013 article in Bloomberg News. Given the boomers’ affection for cars, it’s not surprising that adults over 50 bought nearly two-thirds of the new cars sold in the U.S. (their kids, the 19- to 35-year-old millennials, now outnumber them slightly), but boomers are likely to continue playing a major role in shaping the future of the auto industry and the rapidly evolving “sharing economy.” They may no longer be the largest generation in the U.S. Our understanding of who those consumers are and what choices they are likely to make is changing in surprising ways.Ĭonsider baby boomers, the generation born between 19. The future of personal transportation will be determined by technological advances, informed by the needs and desires of the people who use them. The advent of car sharing, ride-hailing and self-driving vehicles presages a radical transformation in consumer behavior. Until recently, getting a license and buying a car were considered rites of passage, and the car you chose was widely regarded as an expression of your identity, reflecting your priorities and revealing your status.Īll that is now changing.
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