Access over ownership

/ 18 December 2011

I knew that the Millennial generation was smart, but it seems like they are exhibiting intelligence in a number of ways:

The “Millennial” generation is quickly adopting car sharing as a mainstream transportation solution, according to results from Zipcar’s second annual study of the personal transportation and car ownership behavior of 18- to 34-year-olds. The study found that 55 percent of this influential generation have made an effort to drive less, which is a 10 percent rise from 2010. “Millennials are increasingly embracing access over ownership,” Zipcar explained. This is an interesting development, especially since vehicle ownership has been viewed as a “rite of passage” for many Americans. Among the factors persuading Millennials to refuse car ownership are environmental concerns, which have led this generation to consciously reduce road travel. Other concerns include the total cost of vehicle ownership and the perceived advantages of “collaborative consumption“ programs. “Compared to older generations, Millennials participate in and are more open to collaborative consumption programs, such as media, car and home or vacation sharing,” Zipcar explained. “More than half of Millennials, or 53 percent, indicated they would likely partake in a car-sharing service, like Zipcar.”’