Study: Two-car households may soon be a thing of the past [w/video]
Filed under: Car Buying, Ownership
With the rise of suburbia, the two-car garage became a fixture of the American home. In the future, it may a residential relic.
The percentage of two-car households in the United States will decline in coming decades, experts say, and as a result, a leading consulting firm is warning automakers they must brace for the possibility of weakened long-term sales. Americans are migrating toward urban centers and increasingly choosing car-sharing services for transportation, auditing firm KPGM says. Gradually, they’ll own fewer cars and shed significant ownership costs.
“The economics of mobility on demand are powerful.” – Gary Silberg.
57 percent of the 115 million American households have two or more cars today. Over the next 25 years, that percentage is expected to drop to 43 percent of all households, according to projections released on Tuesday during the opening day of the Los Angeles Auto Show.
“If that happens, the overall number of cars in America will actually decline,” said Gary Silberg, the company’s automotive sector lead partner. “The industry economics would look fundamentally different than they do today.”
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Two-car households may soon be a thing of the past [w/video] originally appeared on Autoblog on Wed, 19 Nov 2014 14:41:00 EST. Please see our terms for use of feeds.
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