A report conducted by Groupement des assureurs automobiles found that the number of young men (aged 16-24) who owned an insured car dropped 14% in the last five years.
The report also revealed that from 2011 to 2016, the number of insured vehicles owned by young men declined from 219,000 to 188,000. The number of insured vehicles owned by young women also declined in the same period, from 185,000 to 181,000.
The trend was strongest among men in the 16-20 age bracket, with a 20% drop in the number of insured vehicles. Men in the 21-24 age bracket saw a 10% drop in car ownership.
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Groupement des assureurs automobiles suggested that the drop could be caused by several factors: the youth becoming more environmentally conscious, the rising popularity of collaborative economy (Uber, et al), increased preference for public transit, or simply the need to save money for other things.
At the same time, the number of seniors owning insured cars increased 26% among men and 36% among women in the 75-and-above age bracket. For the same period, the increase was 28% and 37% for men and women, respectively, of the 65-74 age bracket.
In total, among seniors aged over 65, the number of vehicles insured between 2011 and 2016 increased from 455,000 to 580,000 for men, and from 269,000 to 368,000 for women.
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