Generation Z is proving itself to be a demographic out of step with previous attitudes to car ownership. In 2020, only 25% of 16-year-olds in the US held a driving licence—down from 43% in 1997, according to the Insurance Information Institute. What was once considered an important life milestone is slowly losing significance.
While an April 2023 report from McKinsey & Co found that use of a private vehicle remains the most commonly used form of transport for those under 30, this demographic is also the most likely to utilise a diverse mobility mix. The consultancy concluded that public transport, ride-hailing, car-sharing, and micromobility will all gain market share at the expense of privately owned vehicles.
