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Zipcar Survey Reveals Millennials Are More Dependent On Mobile Phones Than Cars

Stocks in this article: ZIP

CAMBRIDGE, Mass., Feb. 28, 2013 /PRNewswire/ -- Zipcar, Inc. (Nasdaq: ZIP), the world's leading car sharing network, released the findings an independent study of Millennials (18-34-year-olds), which examines the attitudes and behaviors of this generation related to urban transportation, technology and car ownership.  Overall, the study found that the increasing availability of on-demand mobility services (such as car sharing, ride sharing and vehicle sharing) helps many Millennials drive less and makes it easier to for them to live without owning a car.

(Logo: http://photos.prnewswire.com/prnh/20111118/MM09809LOGO )

The study, conducted in December 2012 by KRC Research, reveals that mobile devices and on-demand transportation apps are more important to Millennials than car ownership:

  • Nearly two in three (65 percent) of Millennials say losing their phone (30 percent) or computer (35 percent) would have a greater negative impact on their daily routine than losing their car (28 percent).
  • One in four Millennials (25 percent) say transportation apps have reduced their driving frequency, compared to less than 12 percent of those 45+.

Millennial Social Trends: Teched Out, Not Stressed Out

Some say Millennials are too stressed out to take time for themselves these days.  Zipcar's survey indicates that they're simply savvy and taking advantage of technology and convenience:

  • Nearly three quarters (73 percent) of Millennials would rather shop online than drive or ride public transit to the store. 
  • Nearly half (47 percent) of Millennials sometimes choose to spend time with friends online instead of driving to see them in person.

"We're living through the most important shift in transportation in generations – the creation of a new mobility society.  Soon we'll live in major metropolitan areas that include networks of ubiquitous, mobile-app powered on-demand mobility services.  These mobility networks will enable connected consumers to pick the best mode of transportation for each trip, in real-time," said Scott Griffith, Zipcar chairman and CEO. "Millennials are leading the charge for this highly efficient new model that is revolutionizing how people get around. Zipcar has been a pioneer in the creation of the new mobility society, and we will continue to innovate and expand our services in line with the new and evolving metropolitan transportation model."

In addition to the influence of technology and availability of alternatives discussed above, the study found that more traditional influences – like the high cost of car ownership and environmental concerns associated with excessive driving – are compelling many Millennials to drive less.

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