Less License

dmvWhile auto sales hit 17.5 million in 2015, slightly surpassing the prior record set in 2000, the US population is now 12.7% larger! Per capita sales are falling because the percentage of persons with driver’s licenses are declining. The percentage with a license aged 20 through 24 is 77%, down from 80% in 2011 and 92% in 1983. For those under 20, the declines are steeper. Suburbia take note!

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  1. Car sharing, uber, bikes, public transit are the preferred means of transport of millennials. Why own a seriously depreciating asset that sits for 90% of its life doing nothing when one can take more vacations or upgrade their valued phones more often?

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