Why is Gen Z abandoning vehicle ownership?

Attitudes towards vehicle ownership among young people have largely remained static since the introduction of the first mass affordable car, the Ford Model T, in 1908. The Model T made it possible for young, middle-class families to own a private mode of transport. By the 1950s, virtually anybody could own a vehicle, with Kaizer-Frazer’s Henry J model retailing at US$1,500 (US$16,000 when adjusted for inflation). By 2007, 81% of all UK citizens had access to a private vehicle in their household.