NEWS

Americans Bid Farewell to the Three-Car Lifestyle

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The number of households with two licensed drivers owning three cars has reached its lowest point since the late 1990s, according to marketing and research firm CNW Research. That percentage stands at 10.9% of American homes, which is a fairly significant drop from the high-water mark in 2006 of 13.2%.

Families either no longer see the point of or — more likely — cannot afford to have a third, nonessential car. The trend will likely continue, with the number of households that own a spare car continuing to decline, but the question is, how far? Even during the recession at the beginning of the ‘90s, before the flood of easy credit, more than 5% of households owned an extra car.

The New American Mantra: 2 Cars For Life (CNBC.com)

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