Markets

Insider Trading

Hedge Funds

Retirement

Opinion

20 Most Car Dependent Cities in the US

In this article, we will be taking a look at the 20 most car dependent cities in the US. If you do not want to learn about the trends in America’s automotive market, head straight to the 5 Most Car Dependent Cities in the US.

Key Statistics and Trends in America’s Automotive Market 

The United States has one of the largest automotive markets in the world. In 2023, U.S. light vehicle sales were 15.5 million units which makes the US world’s second-largest market for vehicle sales and production. In March 2024, U.S. new vehicle sales increased 5.1% year-over-year to 1,455,030 units. Light truck and SUV sales, which make up 79.8% of the market, grew 6.5% compared to March 2023. The best-selling models were the Ford F-Series, Chevrolet Silverado, Toyota RAV4, and Nissan Rogue. Data shows that over 90% of U.S. households own at least one vehicle Furthermore, many Americans own multiple vehicles – the average U.S. household has 1.9 vehicles. In October 2023, US car exports totaled $5.56 billion, marking a 2.21% increase from the previous quarter, with Alabama leading at $1.23 billion. September 2023 saw US automotive goods exports reach $16.01 billion.

Public Transportation and Auto Insurance Market Dynamics in the US 

The US spends a significant amount of public money on public transportation, but the service quality and ridership levels lag far behind if we compare with other developed countries. In 2022, Us spent around $84.2 billion on public transport. However, despite a large investment in public transportation, the ridership levels have been declining over the years, with a 79% decrease in ridership during the COVID-19 pandemic during 2019-2020.

If we talk about the US  auto insurance market, it was valued at $260 billion in 2021 according to McKinsey, with an expectation to reach $390 billion in 2030. Two-thirds of this market is estimated to stay relatively stable with L0 or L1 vehicles which require traditional insurance. L0 vehicles lack automation, while L1 vehicles offer some driver assistance. The remaining third of the market will undergo significant transformations because of the rise of EVs and road safety tech. EVs and advanced road safety tech are expected to cut accidents, lowering premiums by around 10% which leads to an anticipated $26 billion reduction during the forecast period.

The global sales of electric vehicles which includes both battery-electric and plug-in hybrids are expected to grow by 21% to reach 16.7 million units in 2024. 70% of the cars among these are fully electric cars. The share of electric vehicles in global vehicle sales is expected to reach 20%, up from 17% in 2023.

Most Owned Vehicle Brands in the US 

The most owned vehicle brands in the US are Toyota Motor Corporation (NYSE:TM), Ford Motor Company (NYSE:F), Chevrolet, Honda, and Nissan. Toyota Motor Corporation (NYSE:TM) has a very strong global presence, selling vehicles in over 170 countries. It commands a 10.5% share of the global automotive market which makes it one of the industry leaders. Toyota has consistently been ranked as one of the world’s most valuable car brands, with a brand value of $64.5 billion in 2023. Toyota U.S. reported sales of 191,684 units, an increase of 12.4% on a daily selling rate (DSR) basis, in July 2023. Toyota Motor Corporation (NYSE:TM)’s Q1 2024 earnings were $7.05 per share.

As of December 2023, around 11% of people aged 18 to 19 owned a Ford vehicle. Ford Motor Company (NYSE:F) is heavily investing in electric vehicles and has plans to allocate proceeds from its green bond issuances to EV development and manufacturing, to achieve carbon neutrality across its vehicles, operations, and supply chain by 2050. Ford Motor Company (NYSE:F) expects adjusted EBIT of $10 billion to $12 billion in 2024 and hopes to generate $6 billion-$7 billion in adjusted free cash flow, with capital expenditures of $8 billion-$9.5 billion.

Similarly, Nissan sold 13.96 million units in the US in 2022 and the company’s market share in the US grew to 5.54% in Q1, 2023. Nissan Group reported total U.S. sales of 898,796 units, for the full year 2023,. Sales of the Sentra sedan were up 41.9% year-over-year while the sales of the Kicks compact crossover were up 71% year-over-year in the fourth quarter of 2023.

A busy street with pedestrians and cars, a billboard advertising the public company’s services in the background.

Our Methodology 

For our methodology, we have ranked the most car-dependent cities in the US based on the number of vehicles owned per household in these cities. It is important to note that only cities that exceed a population size of 100,000 are included. For the accuracy of data, we relied on several sources, including National Equity Atlas, Governing.com, and Money Geek. The data for our ranking metric is from 2019.

Here is our list of the 20 most car dependent cities in the US.

20. Plano, Texas 

Number of Cars per Household: 1.88

There are around 1.88 cars per household in Plano, Texas. The age group with the highest daily person-miles of travel (PMT) is 36-65 years old, followed by 21-35 years old. The heavy reliance on cars in Plano has significant financial and environmental implications. A study by the Brookings Institution found that dense, walkable neighborhoods can generate up to 40% of a city’s jobs while only occupying 3% of the land.

19. McKinney, Texas 

Number of Cars per Household: 1.88

With around 1.88 cars per household, McKinney, Texas stands among the most car-dependent cities in the US. According to the 2018 ACS data, 90% of residents travel to work by driving alone. The typical McKinney household spends 19% of their household income on transportation costs, with about three-quarters of those costs related to auto ownership. Combined with housing costs, the total housing and transportation costs for a typical McKinney household is 55% of their income.

18. Round Rock, Texas 

Number of Cars per Household: 1.89 

Round Rock, Texas is the seventeenth most car-dependent city in the United States with around 1.89 cars per household. According to the U.S. Census Bureau, only 6.6% of households in Austin did not have a vehicle during the 2011-2015 period, making it one of the most car-dependent large cities in Texas. This is in contrast to other major Texas cities like Dallas, San Antonio, and Houston, which had 10.1%, 9%, and 9.3% of households without vehicles, respectively. Regarding the usage of cars in Round Rock, the data shows that Texas as a whole has an average daily vehicle miles traveled of 772.7 million miles, and an annual vehicle miles traveled of 282.2 billion miles.

17. Frisco, Texas 

Number of Cars per Household: 1.90 

According to data from the Governing Magazine, Frisco has a very low percentage of car-free households at just 1.1%, compared to the national average of around 8.7%. Data from the North Central Texas Council of Governments shows that the shared passenger mobility propensity, which measures the likelihood of using shared transportation modes, is relatively low in Frisco at 4.1 on a scale of 1 to 10.

16. Huntington Beach, California 

Number of Cars per Household: 1.99 

According to the data, Huntington Beach has a relatively high rate of car ownership, with only 2.6% of households being car-free as of 2015, with around 1.99 cars per household. Before the COVID-19 pandemic, in 2019, around 77% of drivers in Orange County, where Huntington Beach is located, reported commuting to work alone by car. Only 9% carpooled, and just 2% used public transportation.

15. Olathe, Kansas 

Number of Cars per Household: 2.03 

Olathe is one of the cities with a very high rate of vehicle ownership, with 95.57% of households owning at least one car. Households headed by individuals aged 45-64 and 65 and over have the highest rates of car ownership. The most popular car brands among Olathe residents are likely to be the major American and Japanese automakers. Nationally, the top-selling vehicle models are the Ford F-150, Chevrolet Silverado, and Ram Pickup.

14. Centennial, Colorado 

Number of Cars per Household: 2.09 

Centennial, Colorado stands tenth among the most car-dependent cities in the US with the number of cars per household standing at 2.09 and only 2.6% of households being car-free. The high rate of car usage in Centennial is further evidenced by the city’s participation in the “Go Centennial” pilot program, which aimed to integrate various private mobility services, including Lyft, into the local transportation system.

13. League City, Texas 

Number of Cars per Household: 2.10 

According to data from the Governing Magazine, League City has a very low percentage of car-free households at only 2.6%, and an average of 2.10 vehicles per household. Other data shows that households headed by individuals aged 45-64 had the highest rates of vehicle ownership. The 2019 American Community Survey found that the bicycle mode share in the city ranged from only 0.2% to 0.9%, which indicates that the vast majority of trips are made by car.

12. Pearland, Texas 

Number of Cars per Household: 2.12 

Pearland, Texas stands among the cities with a very high rate of car ownership. The city has over 440 miles of roadways and 1,700 stop signs, indicating a strong focus on automobile infrastructure. The average number of vehicles per household, 2.12, indicates that multiple-car households are common which may be facilitated by the city’s relatively high median household income, which was $111,123 in 2022.

11. Miramar, Florida 

Number of Cars per Household: 2.13 

Miramar, Florida stands among the cities with the greatest number of cars per household. The data shows that most people in Miramar drive alone to work, with an average commute time of 29.7 minutes. The city has seen a slight decrease in the number of vehicles per household, from 3.0 in 2017 to 2.13 in 2019.

10. Highlands Ranch, Colorado 

Number of Cars per Household: 2.13

There are at least 2.13 cars per household in Highlands Ranch, Colorado which places it among the cities with most cars in the US. Around 99% of the city’s population owns at least one vehicle for commute.

9. Gilbert, Arizona 

Number of Cars per Household: 2.13 

Around 98% of households in Gilbert, Arizona own at least one car with an average number of cars per household standing at 2.13. The Phoenix metropolitan area, of which Gilbert is a part, has the highest non-interstate per-capita VMT of any major U.S. urban area, which indicates that residents rely heavily on driving for most of their daily transportation needs.

8. Downey, California 

Number of Cars per Household: 2.14

Downey, California has around 2.14 cars per household which makes Downey stand among the cities in the US with the most number of cars. The Caltrans study notes that disadvantaged neighborhoods in both Los Angeles and San Joaquin counties have a higher percentage of “clunker” vehicles, defined as those aged 20 years or older, which suggests that lower-income residents in Downey may be more likely to own older, less fuel-efficient vehicles.

7. Temecula, California 

Number of Cars per Household: 2.14

Temecula, California stands sixth among the most car-dependent cities in the US. Between 2018-2022, 91.7% of households in Temecula had at least one car, with only 8.3% being car-free. The mean travel time to work for Temecula residents is 36.2 minutes. Around 88% of Temecula households use cars to shop for food, driving an average of just 4 miles. The vast majority of Temecula workers, 68%, still drive alone to their jobs, which further highlights the city’s car dependency.

6. Elk Grove, California 

Number of Cars per Household: 2.15

According to the data from Governing Magazine, Elk Grove has a high rate of car ownership, with only 4.8% of households being car-free and the average number of vehicles per household in Elk Grove is 2.21. The Sacramento County Active Transportation Plan notes that the majority of Elk Grove residents, 77.2%, commute by driving alone, while 10.2% carpool. The data from the Bureau of Transportation Statistics shows that in 2020, Americans spent over $460 million on new and used cars, a 2,596% increase from 1960.

Click to see and continue reading the 5 Most Car Dependent Cities in the US.

Suggested Articles:

Disclosure. None: The 20 Most Car Dependent Cities in the US is originally published on Insider Monkey.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 70%.

For a ridiculously low price of just $29, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

  • The Name of the Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.
  • Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
  • Lifetime Money-Back Guarantee:  If you’re not absolutely satisfied with our service, we’ll provide a full refund ANYTIME, no questions asked.

 

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

  1. Head over to our website and subscribe to our Premium Readership Newsletter for just $29.
  2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.
  3. Sit back, relax, and know that you’re backed by our ironclad lifetime money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…