Young People Still Want the Status Symbol of Car Ownership: Continental

Contrary to predictions of a future decline in car ownership among young people, a new study suggests most still see cars as must-have status symbols.

That’s one of the highlights of the latest Continental Mobility Study that reveals 54% of young drivers between 18 and 34 years old in Germany, for example, view owning a car as a positive indication of social status.

The study, conducted in August by market research institute infas, gathered opinions of more than 5,000 motorists in key auto markets of Germany, China, France, Japan and the U.S.

Overall, 84% of car owners in Germany, regardless of age, believe it is important to own a car.

The majority of young people in all markets are particularly enthusiastic about technological advances in cars. In Germany 51% of 25- to 34-year-olds look forward to the benefits of self-driving cars freeing up time to be able to read, play video games or work. This group also welcomes the advance of artificial intelligence (AI) in the use of in-cabin voice assistants.

In China, 90% view the relevant technologies as a useful development, while in Japan, 72% share this sentiment. There are also positive attitudes to the technology with 60% approval in France 60% and 56% in the U.S.

An AI-powered virtual travel companion is particularly popular in China, where 91% say they would like to have such a service. In the U.S. it’s 66% and Japan 63% expressing this desire, while in France 58% and in Germany 57% would be happy to have the technology.

Yet, the pull of owning a battery-electric car remains low among survey respondents. In Germany, only 3% of all car owners have a BEV.

However, just 39% of respondents who do not yet own a BEV believe their next car will be fully electric. By contrast, hybrid drives are highly popular across all countries.

In Germany 48% and in the U.S. 47% who do not own a BEV can imagine their next vehicle being a gas-electric hybrid and in China, that figure rises to 86%.

However, 68% of drivers between 25 and 34 in Germany are particularly interested in BEVs compared with their international peers.

Philipp von Hirschheydt, Continental executive board member responsible for automotive, says: “Younger people in particular have changing expectations of cars. These are closely linked to pioneering technologies such as automated driving, which deliver new user experiences. The response to new technologies in cars varies greatly between generations and also between countries. That’s why we aim to provide customized solutions – market-specific, tailor-made and modular.”