A shortage of affordable cars and sky-rocketing insurance rates are squeezing young people out of the car market.
Concerns over the affordability of vehicles are compounded by barriers such as a 1.1 million driving test gap and rising insurance costs for young drivers.
Data from MoneySuperMarket and Compare the Market highlight the significant increase in insurance costs for 17-20-year-olds, making car ownership challenging for young people.
Despite the challenges, young adults prioritize car ownership due to poor public transport and the desire for independence, with many showing interest in electric cars.
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