Why There Will Be Far Fewer Cars, But Many More Miles Driven

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– By Jeff McMahon  Full text and graphics from Forbes at https://www.forbes.com/sites/jeffmcmahon/2019/01/23/why-there-will-be-far-fewer-cars-but-many-more-miles-driven/#70dfd9f4618c

 . . . . You don’t have to be Milton Friedman to figure out that car ownership is economically foolish.

• “I want you, on purpose, to spend $33,000 on an asset, okay?
• And I want you, on purpose, the minute you buy it, to lose 11.5 percent.
• And on purpose to make that asset sit idle 95 percent of the time,”

. . . . said Gary Silberg, the Americas head of the automotive division of the financial services firm KPMG. “You don’t have to have a PhD in economics to figure out that it’s maybe not a great idea to buy a car.

“The average price of a car in America is $33,000, the average loss is 11.5 percent, and the average idle time is over 95 percent.”

But Americans love their cars, right?

“Okay, so why do people buy cars?” Silberg asked

For more, go to Forbes at https://www.forbes.com/sites/jeffmcmahon/2019/01/23/why-there-will-be-far-fewer-cars-but-many-more-miles-driven/#66af7b57618c

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About the author: 

Jeff McMahon. From Chicago, I write about green technology, energy, environment. FULL BI I’ve covered the energy and environment beat since 1985, when I discovered my college was discarding radioactive waste in a dumpster. That story ran in the Arizona Republic, and I have chased electrons and pollutants ever since, for dailies in Arizona and California, for alternative weeklies including New Times and Newcity, for online innovators such as The Weather Channel’s Forecast Earth project, The New York Times Company’s LifeWire syndicate, and True/Slant—the prototype for the new Forbes. I’ve wandered far afield—to cover the counterrevolutionary war in Nicaragua, the World Series Earthquake in San Francisco, the UN Climate Change Conferences in Copenhagen and Paris. For the last several years I have also been teaching journalism and argument at the University of Chicago. Email me here: jeffmcmahon.com/contact-jeff-mcmahon

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About the editor:

Eric Britton
13, rue Pasteur. Courbevoie 92400 France

Bio: Founding editor of World Streets (1988), Eric Britton is an American political scientist, teacher, occasional consultant, and sustainability activist who has observed, learned, taught and worked on missions and advisory assignments on all continents. In the autumn of 2019, he committed his remaining life work to the challenges of aggressively countering climate change and specifically greenhouse gas emissions emanating from the mobility sector. He is not worried about running out of work. Further background and updates: @ericbritton | http://bit.ly/2Ti8LsX | #fekbritton | https://twitter.com/ericbritton | and | https://www.linkedin.com/in/ericbritton/ Contact: climate@newmobility.org) | +336 508 80787 (Also WhatApp) | Skype: newmobility.)

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