Study shows rise in U.S. vehicle ownership per person, household
While the annual mileage per household has decreased by 5.3 percent in 2016, the number of vehicles per household has gone the opposite direction, with a 0.766 percent per person and 1.698 percent per household increases being reported. With per-person ownership being on the increase for the past four years, and per-household ownership being on the increase for the past three years, it’s apparent that vehicles are becoming more attainable – or at least more frequently purchased. The vehicles reported on the increase include all cars and light trucks.
The University of Michigan Transportation Research Institute has been tracking changes in the ownership and usage of vehicles in the United States since 1984. Statistics reported on include per-person ownership, per-household ownership, annual distances, and overall miles driven.
So, what does all of this census data tell us? For starters, the data shows that since the Great Recession of 2008-2009 and the following seven year recovery, that Americans have rebounded at a 1.4 percent average to not only purchase vehicles, but to use them wisely – thus the reduction in annual mileage and miles driven per person/household.
More importantly, the data shows that Americans are if nothing but resilient, and with our economy regaining its steady ground, that consumers are once again looking to upgrade their vehicles.