A study by KPMG reveals that in 25 years, fewer than half of U.S. households will own more than one vehicle, CNBC reports.
This forecast is supported by the growing number of consumers who participate in car sharing, wait longer to buy their first vehicle, and delay moving to the suburbs. Another contributing factor is the growth of metropolitan areas, which leads to congestion. As a result, the percentage of American households with at least two cars is much smaller for residents of New York and Chicago.
Sign-up for Pro Builder Newsletters
Get all of the latest news and updates.