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Article Excerpt
ROCHESTER, N.Y., May 13 /PRNewswire/ -- Gone are the days of borrowing your roommate's car. The annual 360 Youth College Explorer study, powered by Harris Interactive(R), today revealed findings indicating that nearly three of every four college students (72%) aged 18 to 30 own or have access to a car for personal use. Over the past two years alone, students spent $30.9 billion* on automobiles, and one in every eight students (13%) is expected to buy a car in the next year, dispelling the image of the student in perpetual need of a ride. A significant force in the automotive market, college students are expected to buy one-and-a-half million cars this year, with projected spending totaling $14.8 billion*.
Though traditionally known as the drivers of old jalopies, most students today are not satisfied driving hand-me-downs and old clunkers. Survey results show that of all cars purchased or leased by college students in the last two years, thirty-nine percent (39%), or nearly 1.2 million cars, came from a new car dealer. Another thirty-two...
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