Since 2007, the number of U.S. households abandoning cars is increasing according to a new study.
“Recent studies have shown that — per person, per driver, and per household — we now have fewer light-duty vehicles, we drive each of them less, and we consume less fuel than in the past,” lead researcher Michael Sivak said in a study released by the University of Michigan Transportation Research Institute (UMTRI).
The study noted the trend in 21 of the 30 largest U.S. cities. Of course, areas with better-established public transportation are more likely to see people abandoning personal transportation. New York City was the most prominent case, followed by Washington D.C.
Interest among millennials for new car purchases – a hot topic among manufacturers – will weigh heavily on future automobile sales. Young car buyers have different demands than previous generations and automakers are scrambling to reassess what makes cars sell. Technology and cost of ownership are chief concerns among younger drivers and the push for greater in-car technological integration is directly tied to that.