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Ride-sharing millennials found to crave car ownership after all

Millennials still want the freedom of owning a car, according to a new study from San Diego consulting firm Strategic Vision Inc.

By David Welch | Updated on November 14, 2016
While Millennials have fueled growth for Uber and Lyft, in 2014 they bought more cars than Generation X for the first time, according to J.D. Power & Associates. (Photo: iStock)

(Bloomberg) – It turns out that young people love cars and would rather own one than rely on ride-sharing services from the likes of Uber Technologies Inc. and Lyft Inc.

Millennials, people who were born from 1980 to 2004, are more captivated by cars than their parents and still want the freedom of owning one, according to a new study from San Diego consulting firm Strategic Vision Inc. That contradicts predictions in recent years that auto sales would suffer as Millennials, also known as Generation Y, took Uber instead of buying their own vehicles.

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