A new study released by CEOs for Cities estimates that because New Yorkers drive significantly less than the Average America, they realize a whopping $19 billion in savings each year — money that, for other Americans, typically goes to auto and auto-related expenses. This represents $19 billion dollars in extra cash that is free to circulate in the local economy. In addition to this, New Yorkers avoid the use of approximately 2.4 billion gallons of gasoline and avoid 23 million tons of carbon emissions annually. This is a big part of the reason why New York has one of lowest levels of per capita energy consumption.
“If New Yorkers drove as much as the average resident of one of the nation’s largest metro areas, the city would have 4.5 million more cars. To store just the additional vehicles would require a parking lot the size of Manhattan.”
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