According to the reports, the car sales revenue increased up to 30% worldwide. For a few years the automobile companies are in a panic as the car sales decreased rapidly, but after the year 2015, the car sales have seen a rapid increase. It was reported that millennials did not show any lack of interest in owning a car, but rather, they are taking a long time to settle or buy a car. The topic has left many older adults concerned over the situation.

Millennials bought more than 4 million cars in the United States last years, and the numbers don't seem to see any drop this year. They outpaced the older adults for the first time last year. However, the Automakers are still unsure if the growth may maintain stability in the market as companies like Uber made a significant impact on Millenials. There are other probabilities of market transformation through a different approach in transportation.

Millennials have diverse choices in transportation services. According to the survey, many younger adults do not mind taking public transportation services rather than saving up for vehicles. It was also revealed that in 1989, 80% of aged 19 years old already have a drivers license, while comparing to the current age, the percentage has dropped up to 60%. Although, most youngsters have learned how to drive, getting drivers license may come in a later period.

It was also believed that the growth may increase in the next few years as most young adults are still struggling to clear loans or saving to buy houses. By the time when they reach 30-38, it may see exponential growth and surveys showed great potential among many younger adults. For more information please visit https://www.carzing.com/



Carzing is one of the largest car loan providers. The company's relationship with dealers and major automotive finance companies, they enable you to have the best car buying experience possible. Here, you can control and manage your finances without impacting your credit score.



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