Love or hate driving, the world’s reliance on cars isn’t going to fade away. For over a century, vehicle ownership has been an integral part of modern life. It’s been a symbol of status, freedom, and convenience that billions of people around the world have embraced. Owning a car is about more than getting from point A to B, though. Between financial costs, environmental footprints, and maintenance, car ownership is full of surprising truths and intriguing facts. Read on to learn more about the facts that define the vehicle and our relationship to it.
10 Car Ownership Facts
There are around 1.644 billion vehicles on the road all around the world. (Source)
This means that, globally, about one in five people own a vehicle. That’s a lot of cars!
In the United States, 92% of households own at least one car. (Source)
That’s nearly 285 million vehicles registered in the United States alone. American culture puts a particular unique emphasis on driving and cars.
The average American household owns 2.28 vehicles. (Source)
The high number of households with two or more cars is likely due to the number of couples who both work away from home. In general, America is spread out and it’s inconvenient to be stranded with no vehicle.
California is the most expensive state to own a car in. (Source)
Every aspect of car ownership is more expensive in California, including repair costs, registration fees, sales taxes, car insurance premiums, and gas prices.
Cars are getting older. (Source)
The average age of American vehicles on the road is 12.8, the oldest age on record. This might be a combination of advancing technology that lasts longer and car owners hesitating to buy a new car amid rising prices.
Younger generations would prefer to be car-free. (Source)
45% of Gen Z and 51% of millennials say they wish they could be car-free. For those living in larger cities, this might be a doable wish, but others will struggle to carry out day-to-day activities and responsibilities without access to a car. Only 21% of Baby Boomers would prefer to be car-free.
42% of Americans name their vehicle. (Source)
Naming your car like a pet might seem quirky, but many Americans say that naming their car increases their “bond” with it. The most popular car names are Betsy and Betty.
In Idaho, 96% of households have access to at least one vehicle. (Source)
In Washington, D.C., only 64% of households have vehicle access, and in New York, only 71%. These locations have large metro areas with abundant public transportation.
Car ownership costs are growing. (Source)
The biggest jump in cost occurred from 2020 to 2024. Microchip shortages and shipping issues related to the 2020 pandemic contributed to these rising costs.
The average American spends 20% of their income on car loan payments. (Source)
This statistic highlights the barriers to car ownership. For some people, figures like this make car ownership prohibitively expensive.
Featured image photo credit: Mike Bird
