Older Americans Now Buy Majority of New Cars

In between 2007 and 2017, there has been a major shift in who buys new cars in the U.S. According to data analyzed by website Green Car Congress, older Americans are now in the majority when it comes to the purchase of new cars and light trucks. Half of those buying a new vehicle in 2017 were over the age of 55 compared with around 30 percent in 2007.

At the same time, new car purchases by 35 to 54-year-olds have been decreasing from 50 percent to 35 percent. The shift happened in connection with the price of new cars increasing and younger people growing less eager to purchase cars overall.