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WATCH: Ride-sharing, Uber, new tech... are millennials hurting the car industry?

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<i>Image: iStock</i>
<i>Image: iStock</i>

A millennial can best be described as someone in their 20's right now with access to the latest and greatest technologies.

On the other hand, the word millennial dates as far back as 1987 by two authors who reference that "millennials are those born between 1980 and 2000".

Millennials and their cars

With the advent of Uber and ride-sharing platforms, studies show that youngsters are less reliant on cars and make use of public transportation systems more effectively in certain areas, reports Donut Media.

READ: Millennials invest in cars but don’t realize the actual costs

Those that do own cars look for specific brands and functionalities that cater to their needs such as smartphone connectivity and fuel efficiency. They wont be the type to drive the family's hand me down in an instant.

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