After a Decade of Decline, Vehicle Ownership on the Rise

After a Decade of Decline, Vehicle Ownership on the Rise

According to a report by Michael Sivak of the University of Michigan, vehicle-ownership rates per person and per household are up, on average, 1.4 percent since 2012-2013.

 

The rate of ownership of cars and light trucks peaked in 2006 and has been declining steadily ever since. But that trend might be reversing.

According to a report by Michael Sivak of the University of Michigan, vehicle-ownership rates per person and per household are up, on average, 1.4 percent since 2012-2013.

However, both rates are down 4.4 percent from their peak in 2006.

“Whether the recent increase in vehicle ownership represents the beginning of a new long-term trend, it is too early to tell,” said Sivak, a research professor at the University of Michigan Transportation Research Institute.

Sivak said the vehicle ownership rate per person for 2015 is about the same as it was in 2000, while the rate per household for 2015 is about the same as it was in 1993.

In addition, the report looked at distance-driven rates per person and per household, both of which peaked in 2004. While the two rates for 2015 are down 7.8 percent from their peak, both have risen 2.1 percent since 2013, on average.

The rate per person for 2015 is about the same as it was in 1997, while the rate per household for 2015 is about the same as it was in 1994, according to Sivak.

Sivak’s ninth report used data from 1984 to 2015 from the Federal Highway Administration, ProQuest and the U.S. Census Bureau.

You May Also Like

2024 SEMA Show Registration Now Open

Representatives from more than 2,000 companies prepare to select their exhibit space during priority space selection April 29-May 15.

Registration for the 2024 SEMA Show is now open. Taking place Nov. 5-8 at the Las Vegas Convention Center, the 2024 SEMA Show will reveal the future of the aftermarket as attendees connect with thousands of leading manufacturers showcasing the latest products, trends and technology in the industry.

Representatives from more than 2,000 companies prepare to select their exhibit space during priority space selection April 29-May 15. The weeks-long selection process will lay the foundation for this year’s floor plan, which will encompass millions of square feet of displays throughout the entire Las Vegas Convention Center and surrounding parking lots.

Repairify Appoints New VP of General Automotive Repair Markets

Industry veteran Ben Johnson will lead asTech Mechanical’s business development and product management teams.

ALLDATA Adds Repair Planner to Collision Repair Platform

Repair Planner automates the repair planning process and helps shops plan necessary inspections and structural repairs with OEM accuracy.

AkzoNobel Announces New Business Development Manager

Brian Martin has joined AkzoNobel’s Automotive & Specialty Coatings division as business development manager for North America.

Longtime Family Collision Repair Business Joins Forces with CARSTAR

JC Auto Rebuilders of Rockford, Ill., has rebranded as CARSTAR Team JC Auto Rebuilders.

Other Posts

Lee’s Auto Body: Established in 1916

Lee’s Auto Body was established in 1916 in Long Island City, N.Y., by Lee Heimuller, a blacksmith.

ProColor Collision Network Expands in California

ProColor Collision Baldwin Park is owned by Ruben Jandres, who has more than 10 years of experience in collision and nearly 20 years in automotive.

Mike Anderson Makes Successful Debut at NORTHEAST Show

Anderson’s main message was: Being successful tomorrow is dependent upon what one does today.

Body Shop History: A Look Back in Time

The auto body industry has a deep and rich history rooted in family.