Are Auto Companies Doing Enough to Make New Vehicles Affordable for Millennials?
Millennials are having a difficult time buying new cars says Jalopnik managing editor, Erin Marquis.
Click the audio player above to hear the full conversation. CultureShift airs weekdays 12 p.m. to 2 p.m. on 101.9 WDET–FM Detroit public radio.
Buying a new car was once a rite of passage for middle-class Americans.
But in 2019, purchasing the latest model isn’t financially possible for many people–especially millennials.
CultureShift’s Amanda LeClair speaks with Jalopnik managing editor Erin Marquis about whether or not auto companies connecting with millennials.
According to Marquis, companies at this year’s North American International Auto Show aren’t doing enough to give younger consumers a reason to buy a new vehicle.
“New cars are a difficult buy for millennials,” Marquis says. “If you’re a millennial who is buying a new car you are buying a new car for a growing family. The main problem with that is…our age group is really driving sub-prime auto lending”
“There’s more car debt now than ever before,” she adds. “Cars are basically essential items in so much of the country that (car debt) can just ruin your life.”
Click on the audio player above to hear Jalopnik managing editor Erin Marquis explain why millennials aren’t buying new cars.
