We’ve all heard the rumors: Vehicle ownership is crashing and we’ve hit peak car. Well, not so fast—a researcher in the field says car ownership rates are actually climbing for the first time in a few years.
Michael Sivak of thefound in a recent study that vehicle ownership rates are up about 1.4 percent since 2013. Vehicle ownership rates per person are at their 2000 levels and vehicle ownership per household has returned to 1993 levels. Additionally, distances driven per person have also risen since 2013—by about 2.1 percent.