Driving Losing Its Appeal to Younger Americans

The number of licensed drivers under 25 years of age has seen a sharp decline in the past two decades, according to a new report from the University of Michigan's Transportation Research Institute.

The slide in the number of younger drivers has led to the emergence or car- and ride-sharing mobile-app-based services such as Uber, Lyft, and Car2Go, and auto makers have been ramping up efforts to study mobility trends and invest in such services.

In 2014, only 60.1% of 18 year olds held a driver's license compared with 80.4% of those in the age category in 1983. In 2008 on the verge of the financial crisis that sent car and truck sales into a tailspin, 65.4% of 18 year olds held a license.

The percentage of Americans under the age of 70 years old who hold a license has been on the decline since 2008, the study by University of Michigan researchers Michael Sivak and Brandon Schoettle also found. However, the number of licensed drivers ages 55 and older has increased since 1983.