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Owning a Car Is Less Important To Younger Generations.
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this post was submitted on 19 Sep 2024
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Or, just affordability?
Things just cost a lot more nowadays, and if you're young it's unlikely you're earning much. Hell, it's also possible that their parents missed the boat on salaries rivalling house prices.
The average new vehicle is $66,422 CAD and the average for a used vehicle is $37,662, as per autotrader.ca. A new vehicle is nearly the same as an entire year's salary of an average Canadian according to statscan and that doesn't account for the total cost of ownership.