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[ 1 ] Millennials & Driving A Survey Commissioned by Zipcar November 2011

Millennials & Driving: A Survey Commissioned by Zipcar

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Zipcar, Inc. (Nasdaq: ZIP), the world’s leading car-sharing network, released its second annual independent study of Millennials (18-34-year olds), which examines this generation’s attitudes toward personal transportation and car ownership. The Zipcar membership base ranges in age from 18 to 80s; however, Millennials are an important segment for Zipcar, comprising more than half of all members. Millennials account for about 23 percent of the general population, according to the 2010 US Census.

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Page 1: Millennials & Driving: A Survey Commissioned by Zipcar

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Millennials & Driving

A Survey Commissioned by ZipcarNovember 2011

Page 2: Millennials & Driving: A Survey Commissioned by Zipcar

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Driving Deeper: The Millennials Survey

Online survey of 1,045 adults Ages 18 and over, including 989 licensed drivers Conducted between October 24 and 27, 2011 Break out by age segments

• 18-34 years old: 294 drivers – Millennials

• 35-44 years old: 220 drivers

• 45-54 years old: 181 drivers

• 55 years old or more: 292 drivers

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2011 Key Findings

In 2011, Millennials embrace finding alternatives to driving to reduce their time on the road because high costs of car ownership, the environment and social networking.

In these tough economic times, Millennials would save the money from not owning a car rather than spend it.

Millennials welcome the collaborative consumption movement and are motivated to participate in sharing programs like car sharing because of potential savings they could accumulate for major milestones such as retirement, housing, and college tuition.

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% Agree

Ages 18-34

Ages 35-44

Ages 45-54

Ages 55+

55%

61%

40%

33%

45%

40%

31%

25%

Millennials are Choosing to Drive Less

Licensed Drivers 2010Licensed Drivers 2011

In the past year, I have consciously made an effort to reduce how much I drive, and instead take public transportation, bike/walk or carpool when possible.

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% Agree

Ages 18-34

Ages 35-44

Ages 45-54

Ages 55+

55%

53%

44%

46%

45%

39%

37%

42%

Thinking Green, Driving Less

Licensed Drivers 2010Licensed Drivers 2011

I want to protect the environment, so I drive less.

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Ages 18-34

Ages 35-44

Ages 45-54

Ages 55+

70%

59%

49%

37%

64%

55%

49%

41%

Millennials Want Transportation Alternatives If there were more options in my area, such as public transportation, car sharing or convenient carpooling, I would drive less than I do now.

% Agree(Licensed drivers only)

Licensed Drivers 2010Licensed Drivers 2011

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% Agree

Ages 18-34

Ages 35-44

Ages 45-54

Ages 55+

78%

76%

78%

70%

80%

71%

76%

68%

Cost Of Car Ownership A Key BarrierIn today’s economy, it can be difficult to own a car because of the high cost of gas, parking and maintenance.

(Licensed drivers only)

Licensed Drivers 2010Licensed Drivers 2011

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Ages 18-34

Ages 35-44

Ages 45-54

Ages 55+

68%

55%

39%

24%

54%

46%

34%

18%

A New Way of SocializingWith access to social networking sites such as Facebook and Twitter, text messaging and online gaming, I sometimes choose to spend time with friends online instead of driving to see them.

% Agree(Licensed drivers only)

Licensed Drivers 2010Licensed Drivers 2011

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11%10%18%

27%22%

32%

43%45%

57%49%

53%

67%(Licensed drivers only)

% Likely

Home or vacation sharing programs

Car sharing programs

Media sharing programs

55 years or more45-54 years18-34 years 35-44 years

Millennials Embrace Sharing EconomyHow likely are you to participate in each of the following sharing programs?

Asked only in 2011

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6%8%

14%

20%

15%

4%5%

18%

11%

36%

1%

13%12%

33%30%

2%

11%14%

20%

40%(Licensed drivers only)

Being hassle free Protecting the environment

Paying off credit card debt

Saving for retirement/home/coll..

Not sure

Millennials Share to SaveAnd which of the following would motivate you most to participate in any sharing programs similar to the ones mentioned above?

55 years or more45-54 years18-34 years 35-44 yearsAsked only in 2011

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2%

8%

19%21%

50%

6%

11%11%

24%

48%

10%7%

15%

24%

43%

13%17%

14%14%

42%

(Car owners only)

Travel Paying-off school loans/other loans

Paying off credit card debt

Saving the money

Millennials Spend their Money WiselyAnd now imagine if you could save $6,000 a year by not owning a car, what would you most likely spend the money you save on?

Buying a house

55 years or more45-54 years18-34 years 35-44 yearsAsked only in 2011

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Key Findings Year Over Year (2010 over 2011)

More than half of Millennials, a higher proportion than last year, drive

less because they want to protect the environment.

Nearly seven in 10, more than last year say that they sometimes talk to friends online instead of driving to see them.

Younger drivers remain the most committed to seeking alternatives to driving.