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Owned car? For the Under 25s it is no longer a priority

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Owned car?  For the Under 25s it is no longer a priority

Gone are the days when 18 years old were anxiously waiting to get a driver’s license and drive a car, a coveted symbol of emancipation. Today, young people are no longer in such a hurry and owning a car is no longer a priority. This is what emerges from the data of the Observatory of Segugio.it which in the decade 2011-2021 show a 43% decline in the number of cars registered to young people under the age of 25, from over 1 million to 590 thousand. Against a segment of the population that remained substantially stable in the same period (-3%). One of the main reasons for this change in young people’s attitudes is that driving a car is no longer a symbol of emancipation as it was for previous generations, and this is borne out by the fact that young people get their driving licenses later and later. According to the data of the profiles who have saved a quote on Segugio.it, a leading company in the online distribution of credit products and in the comparison of insurance and utilities products, in August 2022 among the under 25s only 53% obtained a driving license at 18, while 80% of the over 50s did made just of age. If on the one hand the loss of car status is linked to the growing environmental sensitivity and the relative limitations to the circulation of old and polluting vehicles, which in the past were often the first cars owned by young people, on the other hand the disaffection of the ‘under 25s ‘for four wheels is linked to the new opportunities offered by alternative mobility. Especially in large urban centers there is now a swarm of, for example, scooters or bikes for sharing. But there is another important reason that leads young people to approach the car later and later and it is the older age, compared to their fathers, in which they reach economic emancipation. The data show that from 1981 to 2021 the number of employees under 25 fell by 68%, from over 3 million to 1 million, while the number of total employees in the same period grew by 11%. Added to this is a decline in the average income received by young people which, according to estimates made by the INPS, is around 30% between 1975 and 2019. It is therefore not surprising that Italy is one of the countries in Europe with the most high percentage of young people under 30 who still live with their parents: 85.4%, against 67.1% of the European average measured by Eurostat. Given these premises, it is not surprising that young people find it hard to bear the costs of running a car, among which RC Auto has an important weight, which is starting to rise again and which is on average more expensive for the under 25s. According to data from the Segugio.it Observatory for August, under-25s pay an average RC car premium of € 759.2, more than double the national average of € 369.2. While the RC car becomes less heavy with increasing age: 433.3 euros between 25 – 34 years; 337.6 euros between 35 – 44 years; 333.1 euros between 45 – 59 years and 314.8 euros from 60 years onwards

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