New research released by the University of Michigan’s Transportation Research Institute and highlighted by Bloomberg Businessweek has found that Baby boomers are reversing a long-held car-buying trend.
The study found that baby boomers aged 55 to 64 years old purchased new vehicles at the highest rate in 2011. Eighteen- to 34-year-old consumers, by comparison, bought new cars at the lowest rate. Consumers 75 years old and older were more likely to buy a new car than millennials.
For more on how baby boomers are continuing to lead today’s economy, click here.
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