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Automakers Panic As Gen Y Abandons The Automotive Dream

Friday, October 16, 2009

Detroit's year of bad news just got worse: the car industry isn't only losing sales from current buyers depressed by the economy -- it's losing the future. A new J.D. Power report says teens and twenty-somethings lack what was once thought to be the genetic desire to own a car. The study, which analyzed hundreds of thousands of conversations on blogs and social media sites like Facebook and Twitter, showed young people have a poor image of the auto industry. The bad economy and high gas prices could be to blame. But J.D. Power blames social media itself: "with the advent of social media and other forms of electronic communities, teens perceive less of a need to physically congregate, and less of a need for a mode of transportation.”

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