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Gen Y Now Buying More Cars than Gen Xers

Both still behind Baby Boomers in purchases.

by on Jul.31, 2014

A new J.D. Power survey says Millennials may just want to own cars after all. In fact, they are buying new cars in greater numbers than Gen Xers.

While a number of recent studies have suggested that Millennials would prefer to text rather than drive, they’re apparently beginning to buy cars, as well as iPads, in ever-increasing numbers.

In fact, Gen Y now is generating a larger share of U.S. new vehicle sales than older Gen Xers, according to a new survey by J.D. Power and Associates. But both groups still lag well behind Baby Boomers who continue to be the largest group of car buyers in the U.S.

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“As Gen Y consumers enter new life stages, earn higher incomes and grow their families, their ability and desire to acquire new vehicles is increasing,” said Thomas King, a J.D. Power vice president. (more…)