Cars are an integral part of American family life. According to the US Department of Transportation, there are 276 million registered vehicles in America. In fact, 91% of households have access to a vehicle, and studies show that the average person spends 101 minutes a day in the car. Vehicles offer a safer and more private experience than public transport. Your vehicle can be accessed in an emergency if you don’t have time to spare.
Owning a car is also often far more affordable than the cost of ride-sharing, even with the cost of car insurance considered. The rate of vehicle ownership has been increasing year after year. Many Americans have expanded their car collection to include more than one car.
Bankrate has done an extensive analysis of all available data to show the current state of car ownership around the globe in 2021.
How many cars are there in the US?
There were a total of 276,491,174 vehicles registered in the U.S. in 2019, including 108,547,710 automobiles. The United States has more trucks than any other vehicle type. Trucks are second only to buses and motorcycles.
The ownership type of U.S. vehicles is very different. There are less than 4.1million vehicles that are publicly owned than there are 272.4 million privately-owned vehicles. They make up the 276 million+ vehicles that are owned in the U.S.
Statistical data on car ownership by city
The cost of vehicle ownership can vary depending on where you live in the U.S.
Bankrate’s analysis found that vehicle ownership is highest outside U.S. metropolitan areas. The lowest vehicle ownership is found in several states, including Arizona, California, Texas and Colorado.
The U.S. has some of the most populous metropolitan areas. This is likely due to the availability of public transportation and high costs of parking in these areas. New York City is home to the lowest vehicle ownership percentage in the country. Newark, New Jersey is next. Washington, D.C., and Massachusetts have lower vehicle ownership rates than other areas in the United States.
Statistical data on car ownership by state
There is a wide variation in the rate of car ownership between states. The Federal Highway Administration’s Office of Highway Policy Information provides the most current highway statistics, based on 2019 data.
Many of the largest and most populous states in the U.S. have the highest number of vehicle registrations. These include California, Texas, and Florida. Accordingly, the lowest rates of vehicle ownership are found in some of the smaller states, such as Alaska, Wyoming, and Vermont.
What is the percentage of Americans who own a car?
Overall, vehicle ownership is on the rise in an analysis of a five-year period ranging between 2015 and 2019. Over time, the number of households that own one or two vehicles has declined. There has been an increase in the number of vehicles per household that are three or more. It is clear that American households are increasing in size and the need for more vehicles is driving this trend. Data also shows a steady increase in income which allows Americans to afford the car payments on three or more cars as well as the maintenance costs.
It can be a challenge for Americans who don’t have a car. People who live far from public transportation lines may have difficulty getting to work, school and other appointments. Families with children may face additional challenges due to their busy schedules.
Yearly statistics on car ownership
The number of registered vehicles in the United States is increasing each year on an annual basis. From 2014 to 2019, there was a steady increase in the number of total registered vehicles. There was a steady increase in vehicle registrations over the six years from 2014 to 2019. However, that number has risen to more than 276 millions by 2019.
Ownership of a car outside the USA
Looking to the rest of the world, global car sales are expected to reach nearly 70 million automobiles sold by the end of 2021, an increase from 2020.
China is the only country that has more car ownership than the U.S. As of 2017, China also has more vehicles per household than the U.S. More than 25% of all vehicles sold in the world in 2017 were sold in China. That year alone, Chinese car buyers purchased 27.5 million vehicles, and with a rapidly growing population, the trend is expected to continue.
Additionally, there is expected to be both a domestic and global focus on electric and self-driving technologies moving forward, signaling a significant shift in consumer car-buying practices, promising exciting things to come for the entire industry.