Dropping Car Ownership Boosts Local Economies, Household Budgets
Local economies could gain $1 billion per year for every 140,000 people who give up car ownership, and individual consumers could save $7,000 per year, according to an analysis published last month in City Clock Magazine.
“Of the more than $9,000 spent annually per person on car ownership, $7,095 leaves the local economy, according to AAA [the American Automobile Association]. That’s $1 billion for every 140,000 car owners,” the magazine notes.
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In the U.S., “cities are starting to recognize the impact. Between 2000 and 2012, 88% of San Francisco’s more than 11,000 new households were car free. Washington D.C. has had similar results.” (h/t to Energy Mix subscriber Gary Martin for pointing us to this story)