Between Swipes

Millennials are waving cubicles goodbye, finding their dates on Tinder and drinking tons of wine. It's also been said they're valuing experiences over possessions, but it seems they've been buying cars between all those swipes.  

Well, at least there's more snap-worthy material.  

Sales, Sales, Sales

Despite Uber and Lyft services, urban living and college debt, car sales have skyrocketed. Millennials now make up the fastest growing segment among vehicle buyers. It's been projected millennials will make up 40% of the market by 2020. 

Just last year, millennials purchased 4.1 million vehicles in the U.S., and now influence product decisions, like the addition of Alexa and Cortana in vehicles. 

Why Are So Many Cars Being Sold?

Many reports are claiming that the effects of the Great Recession are over, and that millennials are now purchasing cars seemingly in celebration of their improved financial states. However, this could very well be an illusion. Studies show that no one truly knows why millennials are optimistic. Social security won't be in existence by the time retirement comes knocking, and more than a third of millennials worry about money on a daily basis. Sometimes even hourly. 

Furthermore, 1 out of 4 millennials admit they might be facing an uncertain financial future due to lack of planning. This might very well connect with the car sales: not really planning or thinking things through prior to purchasing cars. 

Is this a pre-celebratory sign of optimism, or a much-needed escape from the realities of difficult career building and empty wallets?