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I think there are a few reasons why this generation are not into cars.
People are popping out kids at a faster and younger rate.
Sports cars and insurance are too expensive.
Internet and gaming allow people to live out fantasies without spending money on the real thing.
And lastly most towns/cities no longer have a "car scene". I now work in the town i grew up in and there are not any "car guys" hanging out. We had one particular empty parking lot and between 6 pm on friday to 10 pm on sunday people were hanging out, bullshitting, checking out other peoples cars. Now the lot is empty every day.
Also modern cars are coming from the factory with decent horsepower, all cars not just muscle/sports cars. If somebody can go buy a v6 family sedan that puts out 250-300 hp then they dont feel the need to buy a "go fast" toy.
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