Gen Z are priced off the roads: Insurance hikes and the Budget have killed the first-car dream |
By John Kushnick
For many young people, owning a car is no longer the stepping-stone to independence it once was.
The insurance industry has pushed young people to breaking point, with premiums spiralling so sharply that many Gen Z drivers are being priced off the roads entirely.
Adding to that, last week’s Budget dealt a further blow to any remaining hope of car ownership amongst the GenZ. The higher EV charging costs make embracing new technology and a greener future feel like a financial trap.
For years, young people have been told that switching to electric vehicles could save money in the long run and help the environment. This is reflected in the increasing number of young learners opting to learn automatic rather than manual.
But when upfront costs remain high and using an electric vehicle becomes more expensive, this advice rings hollow. It’s little wonder why many........