Earlier quoted context omitted.
> By reducing people's sunk cost in cars I love this conversation. The US new auto sales run rate is ~17 million vehicles/year, with an average price right around $35k. That's $595,000,000,000 per year in capital being allocated to automotive mobility alone . Think what better things we could do with that capital (or everyone could work far less!) if we only spent a fraction of that on automotive capital costs.
You may love that conversation, but how many Americans are willing to give up their vehicles? In America, the privately owned vehicle isn't just transportation, it's a status symbol. That's not going to change just because someone crunched some numbers.
The biggest reason is generational die off.
We're already seeing younger people forgoing even getting a license. Urban population growth is rendering it less valuable.
The only cohort that licensing is up is boomers. 55-75 are more likely to have a license than they were a generation ago.
Licensed 16 year drivers is way down. Something like half the number are licensed versus a generation ago.
Some of it is "blamed" on cost of owning a car. Those that can afford it but don't buy say they just don't need it. Rides are readily available; friends, Uber/Lyft, and pub trans are enough for a lot of folks as urban density increases.
I'd post references but this is easily Googled from multiple sources. And I'm on a slow mobile connection right now.
Younger folks tend to see cars as noisey, smelly, expensive, and passé already. Not sure that status symbol thesis holds up