Young Women Wealthier--And Leasing More Luxury Cars--Than Male Peers?

September 28, 2010
We've heard it quite a bit in the news recently: Women haven't been hit as hard as men by the recession, and young women in large cities are actually earning more then young men. That in itself might be surprising, but it seems like a natural extension that women now are driving more leased luxury vehicles than men.

According to recent data from the Census Bureau, compiled by Reach Advisors and cited by Time, young women are making 17, 12, and 15 percent more than their male peers in New York City, Los Angeles, and San Diego, respectively. For now, it only applies to single women in the city; there's still a pronounced wage disparity for older, married, or rural women, but considering 147 out of the 150 biggest cities in the U.S., median full-time salaries are eight-percent higher for women.

The leasing marketplace LeaseTrader.com reports that it sees the same trend; 51.2 percent of women under 30 drive a luxury vehicle, while just 42.6 percent did in 2005. And more women than men under 30 are driving a leased luxury vehicle such as, LeaseTrader says, the Audi TT, Audi A4, Infiniti G37, BMW Z4, or Jaguar XK.

The old practice of men putting their name on the lease or title and women driving the vehicle no longer holds true either; the company reports that in California at least, more than 50 percent of its users of all ages are women.

[LeaseTrader.com]

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