The number of cars registered to young people under the age of 25 has seen a significant decline over the past ten years, falling by 33% between 2012 and 2022. According to recent data, fewer than 600,000 cars are now registered to this age group, despite an overall increase of 8% in the total car fleet during the same period.
This drop can be attributed to several factors, including a reduced cultural emphasis on car ownership as a symbol of independence among younger generations. An increasing number of young people are also choosing to delay obtaining their driving licenses. According to a study by Segugio.it, 72% of individuals over 50 earned their licenses at age 18, compared to just 46% of those under 25. In cities like Milan and Turin, this figure is even lower, with only 35% and 39% of young people getting their licenses by age 18, respectively.
The growing availability of public transport and alternative mobility options in urban centers has contributed to this shift. Young people in these areas see less of a need to own a car, further diminishing demand.
Another critical issue is the rising cost of car insurance. The Insurance Observatory of Segugio.it revealed that the average RC Auto premium for drivers under 25 now exceeds €1,000, having risen by 43% over the past two years. In August 2024, the average premium for this age group stood at €1,083.2. Younger drivers face steep insurance costs due to their relative inexperience, with premiums dropping significantly for those aged 25 to 34 as they gain more driving experience.
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