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Car ownership is the ownership of a car. Car ownership typically requires far fewer permits than driving that car on public roads (i.e. driver's license, car insurance, etc.).^[1]

History

Levels of ownership have risen significantly since automobiles were pioneered in the 19th century. The United States was the first country in which mass ownership became common and 60% of families owned a car in 1929. By the 21st century in the United States, there was, on average, a vehicle for every person of driving age and more vehicles than people with driving licenses. This level of ownership was so great that, in 2010, the total number of vehicles dropped significantly for the first time, falling by four million to 247 million.^[2]

In the United Kingdom, only 14% of households had access to a car in 1951.^[3] By 1971, this had increased to 45%, and by 2001, it was at 75% (with many households having more than one car).^[3]

Overall, across the world, levels of ownership increased fourfold between 1950 and 1999.^[4]

Forms of ownership

A car is typically a major purchase and so there are a variety of financial schemes to facilitate the purchase. These include hire purchase, company cars, trade-in and leasing. Other forms of provision which centralise the ownership as a service include rental, car sharing and vehicle hire.

Legal requirements

In some countries, there are additional regulations that must be fulfilled before purchasing or leasing a car. For example, in Japan, due to the high population density and limited space, a prospective owner must first provide proof of a space to park the car in question (proof-of-parking).^[5]^[6]^[7]^[8]

In the Philippines and India, there is also interest in introducing proof-of-parking.^[9]^[10]

In Singapore, there are additional requirements in the form of Certificate of Entitlement which only allows the vehicle's owner to own the vehicle for 10 years. (Prospective) owners of heavy vehicles in Singapore must first provide proof of a space to park the heavy vehicle in question under the Vehicle Parking Certificate Scheme.^[11]

Consequences of legal requirements

In Japan, the proof-of-parking regulation, combined with high taxing, has caused a class of cars known as kei cars (kei jidōsha) to develop. These small cars, limited in dimension (3.40x1.48x2.00m length, width and height) and engine displacement (660 cc or 0.66 L) are popular due to tax discounts on the excise tax (3% instead of 5% for normal vehicles), the weight tax (30% cheaper), and the insurance cost is also more than 10% lower and the annual road tax, calculated on the engine size.^[12]

Ownership documents

Title

In the United States, vehicle ownership is documented on a certificate of title.^[13] In the United States, each state's Department of Motor Vehicles or Registry of Motor Vehicles issues such documents when a vehicle is registered. Title deeds vary by design but always include vehicle-specific information at the front of the document (such as: year, make, model, VIN, color, etc.) and several boxes for transaction information at the back where information about change of ownership is recorded (such as sale date, odometer reading, seller and buyer names and signatures, etc.). In-state vehicle sales are recorded at the back of the title as long as there are unused reassignment boxes. If a vehicle is sold out-of-state, the new owner must apply for a new title at their local DMV office.^[14]

In Spain a second-hand vehicle ownership transfer is done at the DGT office or Tráfico as it's known locally. Transfer tax must be paid using a Modelo 620 form. This must be done within 30 days after signing the contract of sale for the vehicle and must be done by the buyer.

MCO

In the United States, the Manufacturer’s Certificate of Origin (MCO), also known as Manufacturer's Statement of Origin (MSO) is the ownership document issued by the vehicle manufacturer that assigns ownership of a new vehicle to a franchise car dealership until said vehicle is registered and titled.^[15] This document is similar to the title deed in content, but is to be used among licensed car dealers only.

Rates of car ownership

In the developed world, the number of cars per 100 people is generally between 30 and 50, with a few countries (such as Canada and New Zealand) over this. In China there are 15 cars per 100 people, and very poor countries such as Somalia have less than one car per thousand people.

In 2007, the expectation was that the rate of car ownership would be increasing almost everywhere, and rise very rapidly indeed in countries such as China and India.^[16] About ten years later, however, there is a trend from car ownership towards shared mobility,^[17]^[18]^[19] as countries try to reduce congestion and pollution caused by traffic in cities.^[20]^[21]^[22] For example, in Singapore, due to the Certificate of Entitlement quota system, the growth on the car population in the country has remained at zero percent since 2017.^[23] As the price of a Certificate of Entitlement fluctuates with market demand,^[24] the price of a Cat A certificate (for cars with engines of 1,600cc and below) hit a record high of S$106,000 (US$77,380) in October 2023.^[25] Additional taxes are also added to the car purchase price depending on the market value of the car when it was imported.^[26] This has resulted in Singapore being the most expensive place in the world to own a car,^[27]^[28] and has resulted in car ownership rates dropping to about 33% in 2023, a decrease from 40% in 2013.^[29]

References

^ "How To Get Car Insurance Without a License". The Balance.
^ Martin Mittelstaedt (Jan 4, 2010), "U.S. car ownership shifts into reverse", Globe and Mail
^ ^a ^b Sefryn Penrose (2010). Images of Change: an archaeology of England's contemporary landscape. English Heritage. p. 26. ISBN 9781848020719.
^ Lomborg, Bjørn (2001). The Skeptical Environmentalist: Measuring the Real State of the World. Cambridge University Press. p. 79. ISBN 9780521010689.
^ "Application procedure for a vehicle parking space (garage) certificate".
^ "Japan Living Guide (CLAIR)" (PDF).
^ "Guidebook of daily life for foreign residents" (PDF).
^ "shakoshomei". www2.kek.jp.
^ "Press Release - Gatchalian: Proof-of-Parking bill seeks to put vehicle responsibility into owners' hands". web.senate.gov.ph.
^ "Bengaluru: Vehicle owners may have to show proof of parking before registration". December 10, 2019 – via The Economic Times - The Times of India.
^ "LTA | Parking". onemotoring.lta.gov.sg. Retrieved 2022-06-13. Under the Vehicle Parking Certificate (VPC) scheme, heavy vehicles in Singapore must have a parking space licensed by LTA. During the registration of a new heavy vehicle, road tax renewal, transfer of ownership or conversion, the heavy vehicle owner must show proof that they have a designated parking space.
^ "Bright future for kei-cars | Global Fleet".
^ "Massachusetts Title Law".
^ Jahua, Aron (18 September 2021). "Why is a car loan so interesting?". cashwhale.nl (in Dutch). Archived from the original on 2021-08-29. Retrieved 18 September 2021.
^ "State of Alaska". alaska.gov.
^ Wan Mahmood, Wan Sallehah (2007-05-29). "Americans lead the World in Car Ownership, China and India fast catching up in absolute number of cars owned". ACNielsen. Archived from the original on 2008-09-20. Retrieved 2008-10-14.
^ "The Shift From Personal Car Ownership To Shared Mobility Is Well Underway".
^ "The future of mobility: What's next?". Deloitte Insights.
^ "How shared mobility will change the automotive industry | McKinsey". www.mckinsey.com.
^ "Transport minister wants to end culture of car ownership". Fleet News. December 13, 2021. Retrieved March 6, 2024.
^ "Trying to put the brakes on car ownership". Nikkei Asia. June 8, 2021. Retrieved March 6, 2024.
^ "Singapore's car-lite policy reduces car ownership to one-third, down from 40% in 2013". Deccan Herald. November 6, 2023. Retrieved March 6, 2024.
^ "Govt adopts zero-growth stance for car, motorcycle populations". The Straits Times. December 16, 2017. Retrieved March 6, 2024.
^ Grant, Jeremy (4 March 2014). "Singapore overtakes Tokyo as world's most expensive city". FT.com. Retrieved 7 July 2014.
^ "COE premiums for large car and Open categories hit record highs for 6th straight exercise". TODAY. Retrieved 2023-10-18.
^ "Why a Toyota costs S$200,000 in Singapore". The Business Times. February 14, 2024. Retrieved March 6, 2024.
^ "Most expensive city to buy a car". Guinness World Records. January 1, 2018. Retrieved March 6, 2024.
^ "Singapore: The world's most expensive place to drive". The Sydney Morning Herald. October 27, 2023. Retrieved March 6, 2024.
^ "One-third of S'pore resident households own cars, down from 40 per cent a decade ago". The Straits Times. November 7, 2023. Retrieved March 6, 2024.

External links

Media related to Automobile ownership at Wikimedia Commons

[1] "How To Get Car Insurance Without a License". The Balance.

[2] Martin Mittelstaedt (Jan 4, 2010), "U.S. car ownership shifts into reverse", Globe and Mail

[Penrose-3] Sefryn Penrose (2010). Images of Change: an archaeology of England's contemporary landscape. English Heritage. p. 26. ISBN 9781848020719.

[4] Lomborg, Bjørn (2001). The Skeptical Environmentalist: Measuring the Real State of the World. Cambridge University Press. p. 79. ISBN 9780521010689.

[5] "Application procedure for a vehicle parking space (garage) certificate".

[6] "Japan Living Guide (CLAIR)" (PDF).

[7] "Guidebook of daily life for foreign residents" (PDF).

[8] "shakoshomei". www2.kek.jp.

[9] "Press Release - Gatchalian: Proof-of-Parking bill seeks to put vehicle responsibility into owners' hands". web.senate.gov.ph.

[10] "Bengaluru: Vehicle owners may have to show proof of parking before registration". December 10, 2019 – via The Economic Times - The Times of India.

[11] "LTA | Parking". onemotoring.lta.gov.sg. Retrieved 2022-06-13. Under the Vehicle Parking Certificate (VPC) scheme, heavy vehicles in Singapore must have a parking space licensed by LTA. During the registration of a new heavy vehicle, road tax renewal, transfer of ownership or conversion, the heavy vehicle owner must show proof that they have a designated parking space.

[12] "Bright future for kei-cars | Global Fleet".

[13] "Massachusetts Title Law".

[14] Jahua, Aron (18 September 2021). "Why is a car loan so interesting?". cashwhale.nl (in Dutch). Archived from the original on 2021-08-29. Retrieved 18 September 2021.

[15] "State of Alaska". alaska.gov.

[16] Wan Mahmood, Wan Sallehah (2007-05-29). "Americans lead the World in Car Ownership, China and India fast catching up in absolute number of cars owned". ACNielsen. Archived from the original on 2008-09-20. Retrieved 2008-10-14.

[17] "The Shift From Personal Car Ownership To Shared Mobility Is Well Underway".

[18] "The future of mobility: What's next?". Deloitte Insights.

[19] "How shared mobility will change the automotive industry | McKinsey". www.mckinsey.com.

[20] "Transport minister wants to end culture of car ownership". Fleet News. December 13, 2021. Retrieved March 6, 2024.

[21] "Trying to put the brakes on car ownership". Nikkei Asia. June 8, 2021. Retrieved March 6, 2024.

[22] "Singapore's car-lite policy reduces car ownership to one-third, down from 40% in 2013". Deccan Herald. November 6, 2023. Retrieved March 6, 2024.

[23] "Govt adopts zero-growth stance for car, motorcycle populations". The Straits Times. December 16, 2017. Retrieved March 6, 2024.

[24] Grant, Jeremy (4 March 2014). "Singapore overtakes Tokyo as world's most expensive city". FT.com. Retrieved 7 July 2014.

[:1-25] "COE premiums for large car and Open categories hit record highs for 6th straight exercise". TODAY. Retrieved 2023-10-18.

[26] "Why a Toyota costs S$200,000 in Singapore". The Business Times. February 14, 2024. Retrieved March 6, 2024.

[27] "Most expensive city to buy a car". Guinness World Records. January 1, 2018. Retrieved March 6, 2024.

[28] "Singapore: The world's most expensive place to drive". The Sydney Morning Herald. October 27, 2023. Retrieved March 6, 2024.

[29] "One-third of S'pore resident households own cars, down from 40 per cent a decade ago". The Straits Times. November 7, 2023. Retrieved March 6, 2024.

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PROFILPELAJAR.COM

Car ownership

History

Forms of ownership

Legal requirements

Consequences of legal requirements

Ownership documents

Title

MCO

Rates of car ownership

See also

References

External links

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