Millennials are finally arriving in the car market

Dubbed the "go nowhere" generation, they weren't getting driver's licenses, never mind buying cars.

[...] the largest generation in the U.S., millennials bought 4 million cars and trucks in the U.S. last year, second only to the baby boomers, according to J.D. Power's Power Information Network, which defines millennials as those between 21 and 38 in 2015.

Industry watchers say it's been hard to get a read on millennials because the generation is big and diverse, ranging from recent college graduates to settled-down suburbanites.

The advent of graduated licensing laws — which make teens practice driving in stages before granting a full license — was one reason millennials were getting their licenses later.

Add low interest rates and low gas prices to the mix and the car market suddenly looks more enticing to young buyers.

[...] last July, she bought a slightly used 2015 Fiat 500.

According to government data, the median household income for people ages 25-34 is $54,243.

Sheryl Connelly, a futurist with Ford Motor Co. who studies buying trends, said even as millennials start buying cars in bigger numbers, their attitudes are different than previous generations.

"Millennials are going to be the main generation we will cater to as an industry," says John Humphrey, J.D. Power's senior vice president of global automotive operations.