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Vehicle Ownership Per Household On The Rise

Apr 03, 2017

The University of Michigan Transportation Research Institute recently completed a study that found vehicle-ownership rates per person AND per household have risen slightly (1.4 %) from 2013.

The rate of ownership of cars and light trucks has steadily declined since its peak in 2006, but the study finds it is starting to climb again. The Institute says it is too early to tell if this is the beginning of a new long-term trend.

The report also looked at distance-driven rates per person and per household, both of which peaked in 2004. While the two rates for 2015 are down, on average, nearly 8% from their peak, both have risen, on average, more than 2% since 2013.