Zipcar Inc. recently released its "Millennials and the New American Dream" study that examines millennials' (ages 18-34) evolving attitudes towards transportation, technology and what's next in their lives compared to older generations.
Conducted between Dec. 5 and Dec. 8, this year's survey of 1,009 U.S. adults (965 licensed drivers) revealed that despite millennials' differences in the areas of technology and transportation, they are surprisingly similar to older generations on what they value, how they give to the greater good and key components of their American Dream.
While the traditional American Dream may include having a car in the garage, more than half of millennials (53%) claim that high costs of maintenance, parking and gas make it difficult for them to own a car, while only 35% of older generations feel the same. In fact, Zipcar's study showed 17% of 18-24 year-olds don't even have a license.
In addition, more than 50% of millennials say they would drive less if other transportation options like public transit and car sharing were available in their area — 35% reported seeking substitutions for driving.
According to the study, transportation mobile applications still need to reach a tipping point with older audiences, as only 10% indicated that these apps reduce their travel use. However, millennials (24%) are twice as likely to point to these apps (like Zipcar) as a reason for a decrease in their driving.
"From driving less, to preferring mp3 over mpg, to valuing experiences over possessions, this generation has a fundamentally different approach to living than their elders," said Zipcar President Mark Norman. "Yet the data shows that their lifestyle aspirations are similar — a good job, a nice place to live and the ability to enjoy life's great experiences. It shows the power of the American Dream is not diminished, but rather enhanced by technology and innovation."
Click here for the full Zipcar study: http://www.slideshare.net/Zipcar_PR/millennials-2013-slide-share