8/1/2012 - Millenials driving less frequently
Fewer parents may be adding their teenagers to their auto insurance
policies, as it appears as though the younger generation is driving less frequently.
According to Reuters, for the past decade, Americans in general have been getting behind the wheel less often, based on numbers gathered from the government's National Housing Travel Survey. In more recent years, this movement away from driving has steadily increased, particularly among young people, or Generation Y. Research has shown that the average annual number of miles travelled by people between the ages of 16 and 34 has fallen from 10,300 in 2001 to 7,900 in 2009.
"That moment of realizing that you’re a grown-up - for my generation, that was when you got your driver’s license or car," Tony Dudzik, senior policy analyst for California-based think tank the Frontier Group, told the news source. "For young people now, that moment comes when you get your first cell phone."
He added that the reasons for driving less typically relate to expenses, as more young people are taking on expenses with limited financial means due to the recession.