Disinterested 'Gen N' Will Slow Auto Sales
Southfield, Mich.-based advisory firm AlixPartners calls the new demographic "Generation N” for "neutral about driving” because of the younger generation's disinterest in cars, plus unemployment. The firm says they will drag down auto sales until at least mid-decade. The firm's new study says there are 5 million fewer potential car buyers today than five years ago as Baby Boomers drive less, Millennials shun driving and unemployed consumers put their purchases on hold, according to the 2012 AlixPartners Automotive Outlook. Sales will suffer from a generation of "new drivers who are really not even interested in getting a license," said John Hoffecker, managing director at AlixPartners and head of the firm's Automotive Practice. Meanwhile, rising overhead costs will deal another blow to the automotive industry.