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. Overall, across the world, levels of ownership increased fourfold between 1950 and 1999, from 48 people per automobile in 1950 to just 12.
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 the limited space, a prospective owner must first provide proof of a space to park the car in question. This regulation, combined with high fuel prices, has caused a class of cars known as kei cars to develop. These small cars, limited in dimension and engine displacement, can be purchased without having to provide this proof.
Ownership documents
Title
In the United States, vehicle ownership is documented on a certificate of title. 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 and several boxes for transaction information at the back where information about change of ownership is recorded. 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.
MCO
In the United States, the Manufacturer’s Certificate of Origin, also known as Manufacturer's Statement of Origin 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. 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 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. About ten years later however, there is a trend from car ownership towards shared mobility.
