Surprisingly, millennials place a material value on car ownership, and a high percentage expect to make another car purchase in the next five years, according to a recent survey from Duff & Phelps. This finding suggests that “common assumptions about car ownership should be tossed out along with tired millennial stereotypes like poor work ethic, a sense of entitlement and bad attitudes,” the report says. It’s also surprising because millennials tend to live in cities and have easy access to public transportation. In any event, this is “good news for automotive companies currently facing headwinds for the first time this decade,” the report says. The survey is discussed in “Valuation Insights,” first quarter 2020, which also covers: industry market multiples for North America and Europe, how the FASB’s new method for recognizing credit losses is expected to have a major impact, the importance of IP for high-growth firms globally, and the new international cost of capital module for the D&P Navigator.