What Does the Decline in Vehicle Miles Traveled Mean?
Here’s an interesting graphic that suggests a phenomenon that my colleague Jeff Siegel calls “peak car” – a definitive decline in the number of vehicle miles traveled in the U.S. Granted, there are numerous factors that come together to push a change like this, and there is no guarantee that the trend will continue.
But it sure makes one wonder: Is the “bloom off the rose” for the concept of individual vehicle ownership? Has the combined impact of concepts such as mass transit, car-sharing, ride-sharing, micro-rentals, small urban commuter and package-delivery vehicles, redesigned cities, environmentalism – perhaps even the health aspects of biking and walking – begun to touch a chord in the American psyche?
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