German millennials want their own car, prefer combustion models – survey
Clean Energy Wire
German millennials' attitudes towards cars are less sceptical than generally assumed, according to a survey by business advisory Duff & Phelps. The use of cars is more prevalent among millennials in Germany than in the whole of the EU, with 81 percent of Germans born since 1980 currently owning or leasing a car, compared to an EU average of 79 percent. Young Germans also expressed a relatively strong preference for conventional cars: 61 percent said they would prefer to buy cars with combustion engines, while 32 percent preferred electric or hybrid vehicles. At the EU level, 53 percent said they prefer conventional cars, while 39 percent favoured more climate-friendly alternatives. "The high acquisition cost of electric vehicles is the likely reason for this sentiment," Duff & Phelps said. "The tendency of millennials to be city-dwelling and to use public transportation seems to not dampen their interest in car ownership," the advisory added. General environmental concerns have no negative impact on this sentiment either, according to the study. Duff & Phelps surveyed 2,150 millennials between the ages of 23 and 38 from across the world on car-buying preferences.
Declining car ownership among young people in Germany, and the loss of cars' role as a status symbol, are often cited as a major concern for carmakers. According to an article in manager magazine, however, these trends are a “myth”, as lower car ownership can be explained by other factors unrelated to attitudes, such as affordability, the share of people living in cities and starting families later in life.