Don't know what planet you guys are living on, but the fact is kids aren't buying cars because they can't afford them, not because they suddenly have a trust issue with GM.
Nobody likes public transit, and very few people want to commute by bike. This is the reality. The statistics prove it, and I haven't seen a rise in either bike commuting or public transit ridership.
If/when gas prices go down and/or credit is easier to get, we'll see other trends.
In the meantime, look at China and tell me people aren't interested in driving their cars.