Reports of the death of car-buying among millennials turn out to have been greatly exaggerated. But there's one big reason ride-hailing services like Uber, and eventually, autonomous vehicles, are still a threat to private car ownership.
Put simply, we just don't use our cars very much.
Transportation adviser Paul Barter has confirmed longstanding claims by urban planners that, on average, cars are parked 95% of the time. Barter tries three different approaches, first using data on the number of car trips and their average time, then survey results about the time we spend driving, and finally extrapolates from reports on the distance and speeds cars travel.