Zipcar, Inc. (Nasdaq: ZIP), the world’s leading car-sharing network, released its second annual independent study of Millennials (18-34-year olds), which examines this generation’s attitudes toward personal transportation and car ownership. The Zipcar membership base ranges in age from 18 to 80s; however, Millennials are an important segment for Zipcar, comprising more than half of all members. Millennials account for about 23 percent of the general population,
according to the 2010 US Census.
2. Driving Deeper: The Millennials Survey
Online survey of 1,045 adults
Ages 18 and over, including 989 licensed drivers
Conducted between October 24 and 27, 2011
Break out by age segments
• 18-34 years old: 294 drivers – Millennials
• 35-44 years old: 220 drivers
• 45-54 years old: 181 drivers
• 55 years old or more: 292 drivers
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3. 2011 Key Findings
In 2011, Millennials embrace finding alternatives to driving to reduce
their time on the road because high costs of car ownership, the
environment and social networking.
In these tough economic times, Millennials would save the money from
not owning a car rather than spend it.
Millennials welcome the collaborative consumption movement and are
motivated to participate in sharing programs like car sharing because of
potential savings they could accumulate for major milestones such as
retirement, housing, and college tuition.
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4. Millennials are Choosing to Drive Less
In the past year, I have consciously made an effort to reduce how much I drive,
and instead take public transportation, bike/walk or carpool when possible.
% Agree
55%
Ages 18-34
45%
61%
Ages 35-44
40%
40%
Ages 45-54
31%
33%
Ages 55+
25%
Licensed Drivers 2011 Licensed Drivers 2010
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5. Thinking Green, Driving Less
I want to protect the environment, so I drive less.
% Agree
55%
Ages 18-34
45%
53%
Ages 35-44
39%
44%
Ages 45-54
37%
46%
Ages 55+
42%
Licensed Drivers 2011 Licensed Drivers 2010
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6. Millennials Want Transportation Alternatives
If there were more options in my area, such as public transportation, car sharing
or convenient carpooling, I would drive less than I do now.
(Licensed drivers only)
% Agree
70%
Ages 18-34
64%
59%
Ages 35-44
55%
49%
Ages 45-54
49%
37%
Ages 55+
41%
Licensed Drivers 2011 Licensed Drivers 2010
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7. Cost Of Car Ownership A Key Barrier
In today’s economy, it can be difficult to own a car because of the high cost of
gas, parking and maintenance.
(Licensed drivers only)
% Agree
78%
Ages 18-34
80%
76%
Ages 35-44
71%
78%
Ages 45-54
76%
70%
Ages 55+
68%
Licensed Drivers 2011 Licensed Drivers 2010
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8. A New Way of Socializing
With access to social networking sites such as Facebook and Twitter, text
messaging and online gaming, I sometimes choose to spend time with friends
online instead of driving to see them.
(Licensed drivers only)
% Agree
68%
Ages 18-34
54%
55%
Ages 35-44
46%
39%
Ages 45-54
34%
24%
Ages 55+
18%
Licensed Drivers 2011 Licensed Drivers 2010
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9. Millennials Embrace Sharing Economy
How likely are you to participate in each of the following sharing programs?
(Licensed drivers only)
67% % Likely
57%
53%
49%
45% 43%
32%
27%
22%
18%
10% 11%
Media sharing Car sharing Home or vacation
programs programs sharing programs
Asked only in 2011 18-34 years 35-44 years 45-54 years 55 years or more
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10. Millennials Share to Save
And which of the following would motivate you most to participate in any
sharing programs similar to the ones mentioned above?
40%
(Licensed drivers only)
36%
33%
30%
20% 20%
18%
15% 14% 14%
12% 13%
11% 11%
8%
5% 6%
4%
2% 1%
Saving for Paying off credit Being hassle free Protecting the Not sure
retirement/home/coll.. card debt environment
Asked only in 2011 18-34 years 35-44 years 45-54 years 55 years or more
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11. Millennials Spend their Money Wisely
And now imagine if you could save $6,000 a year by not owning a car, what
would you most likely spend the money you save on?
(Car owners only)
48% 50%
42%43%
24% 24%
21%
19%
15% 17%
14% 14% 13%
11% 11% 10%
7% 8%
6%
2%
Saving the money Paying off credit Travel Paying-off school Buying a house
card debt loans/other loans
Asked only in 2011 18-34 years 35-44 years 45-54 years 55 years or more
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12. Key Findings Year Over Year (2010 over 2011)
More than half of Millennials, a higher proportion than last year, drive
less because they want to protect the environment.
Nearly seven in 10, more than last year say that they sometimes talk
to friends online instead of driving to see them.
Younger drivers remain the most committed to seeking alternatives to
driving.
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