Vehicle Ages Peak, Political Jabs Fly, and Gen Z Seeks Balance

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Welcome to Wednesday as we discuss the rising age of vehicles in the U.S., political attacks in Ohio's Senate race targeting a former car dealer, and how Gen Z workers' values align closely with those of their older colleagues. 

Show Notes with links:

• The average age of vehicles in the U.S. has climbed to a record 12.6 years, with the total number of vehicles in operation increasing to 286 million as of January 2024.
  • The average vehicle age rose by two months from the previous year, continuing a seven-year trend.
  • Only 88 million vehicles were 1 to 5 years old in January 2024, down from 90.3 million in 2023.
  • There are 110 million vehicles in the prime aftermarket service range, aged 6 to 14 years.
  • Factors driving the increase include better vehicle quality, high prices, COVID-19 impacts, and hesitancy to buy EVs.
  • Todd Campau of S&P Global Mobility noted, "Really, the main driver was the pandemic and the supply chain" .
    
    
    
• Ohio Sen. Sherrod Brown's new ad targets Republican challenger Bernie Moreno's past as a car dealer, sparking backlash from auto dealers who support Moreno's campaign.
  • Brown's ad claims Moreno was untrustworthy as a car dealer and shouldn't be trusted as a senator.
  • Auto dealers argue Brown's comments insult the hardworking employees in the auto sales industry.
  • Tim Glockner of Glockner Chevrolet stated, "Sherrod Brown's comments are a slap in the face to hardworking Ohioans in the auto sales industry."
  • Moreno, endorsed by former President Trump, has become the Republican nominee in a highly competitive race.
  • "Thousands of Ohioans are employed in various capacities across the auto industry, and our senior senator chose to mock our jobs on the airwaves," said Joseph Chapman of Chapman Ford 
    
    
    
• Contrary to popular belief, Gen Z workers have many of the same aspirations and values as their older colleagues, focusing on decent salaries, meaningful work, and work-life balance.
  • A study by Seramount found that Gen Z workers value work-life balance and flexibility, with a desire to be in the office for the social interaction and learning…but maybe not everyday
  • Only 11% of Gen Z want to work remotely full-time, compared to 34% of older workers.
  • Financial stability is important across generations, with 51% of Gen Z and 47% of older workers prioritizing salary.
  • Gen Z workers also seek strong relationships with their supervisors and aim for leadership roles.
  • Jon Veasey-Deters of Seramount noted, "Gen Z is not that different from other generations. We're just the newest one" .

Hosts: Paul J Daly and Kyle Mountsier

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