Internet and on-demand mobility could cut US car ownership


US sales of light-vehicles are increasing, but two-car ownership is likely to fall.

Light-vehicle sales for 2014 amounted to 16.4 million units, up almost 6% from 2013 and the highest volume since 2006.  However, the future may not be quite so positive as car owners are changing their buying habits.

According to a KPMG report, 57% of US households own two or more cars, apart from in major cities where car ownership is lower. Yet, with an average spend of around $31,000 on a vehicle that spends 95% of the time unused, on-demand rental services and car sharing are starting to change vehicle buying habits across the nation.  The report predicts that, eventually, less than 50% of US households will own more than one vehicle, particularly in cities such as New York and Chicago.

The connected world is also having a effect. According to the report, many people in the developed nations are holding-off buying their first new car.  This is influenced by the increased use of online services and online working which means people stay at home more than they used to, reducing their need to own a vehicle.