I think this is explainable at the margins by the lack of positive peer pressure to live a rich life, of which the car is just a symptom. Case in point, a kid

I think this is explainable at the margins by the lack of positive peer pressure to live a rich life, of which the car is just a symptom. Case in point, a kid who (a) wants to have a job (b) wants to hook up and (c) wants to go to parties / events still wants a car. What changes is that whereas in the 80s/90s, a kid who sat in his basement pulling his pud would would be considered a loser and have pressure to not be like that. Today it's totally acceptable. So there are simply more kids who aren't even trying to have an out-of-basement life, so they don't need cars. I think it's not that relevant. The kids who are going to grow up with more power (financial and social) are the ones that want cars today.