Getting back to cars...
It's now looking like we're on the cusp of a major transition away from ICEVs. We seem to be very close (less than five years) from driverless taxi service. When that happens most people are going to find it cheaper to phone for a ride than to own a car and cheaper to share rides with others.
If you assume that one robotaxi could, on average, serve three people per day the cost of "owning" drops from 100% to somewhere between 33% and 50%. 33% + profits to the actual owner. The cost of energy per mile drops a similar amount. The cost of insurance drops even more because self-driving cars will have far fewer crashes than human driven cars. Being willing to share a ride with others, something we do every day on planes, trains, buses and subways, will create another drop in cost per mile to ride.
The hassles of car maintenance, registration, fueling/charging, and parking disappear.
Some of the first to abandon car ownership will be the people with the slimmest financial resources. First time they need a couple new tires, a battery, a water pump, or whatever and they don't have the cash or credit to pay they're likely to call for a ride. They'll ride to where they want to go in a comfortable, reliable car for less than what they would have spent for fuel. Their clunker won't get fixed.
People with not a lot of extra cash will realize that if they didn't own a car but phoned for a robo they could pay down some debt, remodel their kitchen, take a nice vacation each year. Over a few years and especially as their ICEVs start to require more repairs they'll dump their gasmobiles.
Older folks for who driving is no longer easy will phone in. Parents will quit buying cars for their kids to drive to school. Younger people will not bother buying a car if they can phone for a cheap ride when other cheap transportation wouldn't work.
Over just a few years the market for ICEVs and cars in general is likely to shrink. Many currently profitable car manufacturers probably couldn't survive a permanent 20% drop in sales. In order to survive their first move is likely to be to raise the asking price for their cars, further shrinking the market.
The new car market is likely to quickly become EVs and EV robotaxis, mostly robotaxis. Dealerships and repair shops will close. Gas stations will close. It will be more difficult to repair and fuel an ICEV if you do own one. And that will push more people into robotaxis.
I'm seeing a spectacular ICEV crash. The timing now largely depends on how rapidly we can open battery factories and create the material flows to supply them.