U.S. Car Ownership Statistics and Trends

Car Ownership in the United States

Americans place a high value on car ownership, as evidenced by the latest statistics. Between 2018 and 2022, personal and commercial vehicle registrations increased by 3.5%, indicating an upward trend in car ownership.[1] In 2022, 91.7% of U.S. households had at least one vehicle, while 22.1% of households had three or more vehicles.[2]

National Car Ownership Statistics

• Total number of registered vehicles in 2022: 278,870,463
• Trucks are the most popular vehicle type, with 170,239,357 registrations in 2022
• Cars: 98,573,935 registrations in 2022
• States with the highest number of motor vehicle registrations per 1,000 licensed drivers:
  1. Montana (2,618.25)
  2. Wyoming (2,057.22)
  3. South Dakota (1,959.62)

Car Ownership by State

States with the highest rate of car ownership:

• Idaho and Wyoming: 96.2% of households
• Utah: 96.1%
• Montana: 95.4%

States with the lowest rate of car ownership:

• District of Columbia: 64.3%
• New York: 71%
• Massachusetts: 88.1%

Electric Vehicle Ownership

• California has the highest rate of EV ownership: 2.5% of total registered vehicles
• Mississippi, North Dakota, South Dakota, West Virginia, and Wyoming have the lowest rates: 0.1% each

Most Popular Vehicles

• Most popular used car: Ford F-150
• Other popular models: Chevrolet Silverado 1500, Chevrolet Equinox, Ram 1500, Toyota Camry
• Most common car color: White (26.2%)

Cost of Car Ownership

• Average annual cost to own and operate a new car in 2023: $12,182
• Average monthly cost: $1,015
• Average sales price for a new car in 2023: $47,331
• Average sales price for a used car in 2023: $29,586

Most expensive states to own a car:

1. California and Nevada (tied)
2. Colorado
3. Florida

Least expensive states to own a car:

1. Ohio
2. Iowa
3. Wisconsin

The cost analysis included factors such as gas prices, car repair costs, average car insurance costs, and monthly auto loan payments across all 50 states.