Ownership is peaking but car travel is far from dead

When Daimler last week issued its second profit warning this year, it was evidence of the cyclical troubles that German carmakers face, beset by the diesel clampdown in their own country and lower sales in China. It was also a sign of a longer-term malaise.

The moment of "peak car" - people switching from driving to travelling by train, bus and bicycle - has occurred in many cities in developed economies.

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A version of this article appeared in the print edition of The Straits Times on October 25, 2018, with the headline 'Ownership is peaking but car travel is far from dead'. Print Edition | Subscribe