Women in Cars—Overtaking Men on the Fast Lane
Women are gaining more and more power, not only in political and business leadership, but also in an important segment traditionally linked to men: the car.
For the first time in the history of the car industry, a Frost & Sullivan report finds that the number of women with driving licenses (DL) in the U.S. overtook that of men, not just in one of the young age groups, but (as shown in the chart below) consistently across all age groups greater than 25. The trend accelerates for over 55s and shows a wide difference for women over 70. The trend is applicable consistently across all developed world countries, although the balance has tipped only in the U.S., but Canada is close to having more women with DLs with the ratio of licenses granted to women sitting at 49.95 percent and has already tipped in over 55s. The U.K. is expected to follow suit within three to four years as current data shows that new DL applications for men in the country are declining and those for women have grown by percent in last three years. Even male-dominated car markets like Germany, where onlypercent of DLs are granted to women, have shown one of the highest growth rates for women with DLs in the last three.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook