Millennials Beat Generation X In Buying New Cars

Millennials are winning the car buying race compared to their Generation X counterparts.

Millenials, also known as Generation Y, are those born between 1977 and 1994. Generation X are those born between 1965 and 1976.

New data from J.D.Power and Associates show the younger generation is now buying more new cars than the middle-aged population. According to the report, Millennials accounted for 26% of sales while Gen Xers purchased only 24% of all new cars so far this year.

Experts say that is because Millennials are more willing to spend money on a new vehicle.

However, both groups are still getting lapped by the Baby Boomers, those born between 1946 and 1964. They bought 38% of all new cars sold during the first half of this year.

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