The young are falling out of love with cars because they're unaffordable. It's as simple as that. It's yet another sign the standard of living is declining for the young. The average new car price in the U.S. is now over $47K (Consumer Reports). I make a good living and I'm not going to pay that kind of money for a new car! A young person would be stupid to pay that kind of money for a car. Okay, so what about used c…
Used car prices have really went nuts since mid 2020 though, well beyond what can be normalised out. I'm not sure that's long enough to explain the phenomena on it's own, it certainly started before young people wanted to buy cars in 2021, but if you're looking for where it got more expensive for young drivers the very recent used car price explosion is it.