Cars Sales to Young Buyers Fall in Germany

Only 27% of new cars sold in Germany were bought by consumers under the age of 45, according to the University of Duisburg-Essen's Center for Automotive Research.

The center's analysis also says the average age of a new-car buyer in Germany climbed to a record 52.2 years last year. That is three years older than the average a decade ago.

The Financial Times notes that other industrialized markets have seen the same trend. It reports that the number of young people taking driving tests in the U.K. has dropped 20% in five years.

Studies in the U.S. blame the trend on a lack of income rather than an absence of interest in car ownership among young consumers. Other researchers speculate that car ownership is less important to young adults than other needs. Some studies indicate that young consumers are more likely than older people to use public transportation or car-sharing services.