With increased urbanization are we entering the age of "Peak Car"?

Are we approaching the ago of 'Peak Autos'? With the rise of urbanization and an increased demand for mass transit, some are seeing the future of the car as a neceessity in decline. Take note mass transit opponents.
"More young people also are passing on pursuing drivers’ licenses, once a rite of passage. In 2010, 69.5 percent of 19-year-olds in the U.S. had a driver’s license, down from 87.3 percent in 1983, said Michael Sivak, director of sustainable worldwide transportation at the University of Michigan Transportation Research Institute in Ann Arbor.
Better-built cars are damping demand for new ones: The average age of autos on the road today has reached a record 11.4 years, according to researcher R.L. Polk & Co."
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