Transportation | National News | kulr8.com
– Average annual expenditure in 2020 for all consumption units: $9,826
– Under 25: $7,300
– 25-34 years old: $10,277
– 35-44 years old: $12,617
– 45-54 years old: $12,316
– 55-64 years old: $10,287
– 65-74 years old: $7,676
– 75 and over: $4,205
The auto industry has been buzzing since COVID-19 hit. In April 2020, US sales fell 47%. With in-person restrictions making it difficult to visit dealerships, many shoppers have gone online for their purchases. Still, there was the problem of supply versus demand, supply chain issues and microchip shortages adding to the delays. And with fewer people commuting to work, the need for vehicle ownership wasn’t as great for many.
Another tendency which flowed from it was the sale of used cars. Those aged 35 to 44 were the biggest spenders in this category with an average annual spend of $3,573. For car rentals, the 45-54 age group came out on top here, spending an average of $952 per year.
Despite limitations in vehicle access, public transport use has not increased either, potentially due to COVID-19 restrictions. The age group that used public transportation the most was 35 to 44, spending an average of $335 for the year. In 2020, however, some positive changes have also begun, including a 43% recovery in electric vehicles.