One of the challenges our industry faces is with the number of younger licensed drivers. Drivers are getting older and fewer young people are getting their licenses. Today’s trend shows statistics about US licensed drivers by age group from 1995 to 2010.
The total number of licensed drivers in the US grew by 33 million, or 19%, from 1995 to 2010. Licensed drivers 19 and under grew by 432 thousand over the 15-year span and it grew by 5%, less than half the growth rate of all licensed drivers. Only one age group showed a decline during that time, ages 30 to 39 which shrank by nearly 5 million licensed drivers. That statistic may surprise some readers due to a prevailing belief the number of young drivers is decreasing. Still, it is a concerning statistic that drivers ages 29 and younger are growing at a much lower rate than all licensed drivers.
|Age group||1995||2010||Difference||Change %|
|19 and under||9.1 million||9.5 million||+432,115||+5%|
|20 to 29||33.6 million||35.9 million||+2,317,167||+7%|
|30 to 39||40.9 million||36.0 million||-4,932,305||-12%|
|40 to 49||35.8 million||40.0 million||+4,142,294||+12%|
|50 to 59||23.1 million||39.0 million||+15,951,076||+69%|
|60 to 69||17.4 million||27.3 million||+9,884,438||+57%|
|70 and up||16.6 million||22.3 million||+5,691,672||+34%|
(Source: Fed. Highway Admin., OHPI; Hedges & Company)
How are you finding new customers if licensed drivers are getting older?
Tomorrow check back for Trend 42 when we dive into purchase decisions made by consumers according to a Google study.