Americans waiting longer to buy first car

September 17, 2012

In the last five years new car purchases by 18-to-34 year olds dropped 30-percent, according to the car shopping website edmunds.com.

It may be a reflection of the economy, but more young people are moving from the suburbs to urban areas and therefore don't need a car.

Another study found that 46-percent of 18-to-24 year olds would choose internet access over owning a car.

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