In another possible threat to car sales, use of public transportation has reached a multiyear high. According to the American Public Transportation Association:
The demand for public transportation rose last year as Americans took 10.5 billion trips, the second highest ridership since 1957.
APTA President and CEO Michael Melaniphy said, "Every mode of public transportation showed an increase in ridership. Public transit ridership grew in all areas of the country - north, south, east, and west - in small, medium and large communities, with at least 16 public transit systems reporting record ridership."
Filed under: 24/7 Wall St. Wire, Autos