Nobody has been watching the maturing of the Millennials more closely than the auto manufacturers because of the widespread belief that these young people don’t like driving, don’t like cars, and won’t be buying many new ones. An oft-cited story in the Atlantic in 2012 headlined “Why Don’t Young Americans Buy Cars?” seemed to crystallize the debate. It quoted Jim Lentz, the top American at Toyota USA, as saying, “We have to face the growing reality that today young people don’t seem to be as interested in cars as previous generations. Many young people care more about buying the latest smart phone or gaming console than getting their driver’s license.”
Fortune.com’s corporate sister Money.com (both are owned by Time Inc.), weighed in last month citing another two-year-old Atlantic article, bemoaning a falling-off of interest in Beach Boy car songs, and concluded: “The sad fact is that American car culture is dying a slow death.”