German youngers are considering the car status symbol

Most young Germans believe that the car is still a symbol of high social status, despite a steady decline in the share of registered vehicle owners aged under 30 years.

Of 2,000 people participating in a survey conducted by the Institute for Social Research and Statistical Analysis Forsa German insurance company CosmosDirekt, almost two-thirds (64 percent) said that having a car enhances social status greater than a house or apartment (37 percent) and clothing (17 percent).

Respondents aged between 30 and 44 years owning a property considered important for social status (47 percent) than a car (40 percent). Those aged over 60 were less interested in status, although at this age prevailed home ownership (30 percent) compared to a car (21 percent).