Recent trends in car buying indicate that an increasing number of American households are shying away from buying a second automobile. As more consumers participate in car sharing and wait longer before purchasing their first vehicle, it is predicted that within twenty-five years, the rise of the one-car family will include more than half of American families.

Currently, 57 percent of American households own two or more vehicles, according to a study conducted by KPMG. That’s a figure which has been perpetuated for the last several decades, but is predicted to fall steadily to 43 percent by the year 2040.

Reasons for the decline include the rise in popularity of ride-share companies such as Lyft and Uber, and consumers delaying the purchase of their first car. Historically, automobile manufacturers relied on snaring consumers at an early age and then counting on their brand-loyalty for years to come.

However, a dynamic demographic and economic situation has obligated families to re-evaluate the number of automobiles they need. The average new car price is about $31,000. When you consider the automatic depreciation of 11% for driving the car off the lot, plus all insurance and maintenance costs, car ownership is not the most economic choice.

Car Accident Statistics

The number of vehicles on U.S. roads has reached a record 253 million as reported by IHS Automotive. And with the growing number of automobiles on the road, car accidents have grown in frequency as well. There are over 6 million traffic accidents annually. These accidents injure over 3 million people every year- 2 million of those being permanent. And despite the fact that improved vehicle safety features have decreased the number of traffic fatalities, more than 40,000 people die every year in car accidents.

The major contributing factors to car accident fatalities include:

  • Drunk drivers
  • Speeding drivers
  • Reckless drivers
  • Distracted drivers

Car accidents are the leading cause of death in those ages 30 years or younger. The majority of car accident victims are the drivers, followed by passengers in the vehicle, and then pedestrians and cyclists.

The anticipated tendency for families to buy fewer car will undoubtedly have an impact on automakers. But will it also have an impact on traffic accident statistics? Because 25 percent of all motorists are involved in a car accident during any given five-year period, one can only wonder if a reduced number of vehicle on the road would be better for all of us.

Contact Denver Car Accident Attorneys

Denver Car Accident Attorney, Robert PaysingerIf you or someone you love is injured in a car accident, there is no time to delay. Insurance companies will often try to pressure you into signing a settlement that is far below what you need to recover. Call Denver attorney Robert Paysinger today to discuss your case and learn how you can obtain maximum compensation for your injuries. Our law firm offers FREE case consultations and can be reached at 303.279.0221.

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