Because when I want to use one to go to the mountains or the beach on a holiday weekend there will be none available or surge pricing? This is already the case to some extent with rentals and car sharing services.
I own a car in NYC that is only used on the weekends. Financially this is a somewhat dubious proposition compared to Zipcar, but it's a win for me in two ways: it's always available without any reservation process, and my financial incentive is to use it more often since I've already paid all of the fixed costs (tax, insurance, parking) of ownership. I like this incentive since I enjoy getting out of the city. With Zipcar the annualized costs are fairly similar to owning a car and using it a couple of weekends per month, but a simple weekend getaway comes with a $300+ pricetag up front for the car rental.
Some people will still own cars. But owning a car will shift from being a necessity (as it is for people today in areas without adequate transit systems) to a luxury.
On an economic level, the occasional person who wants to reserve a car for a weekend uses up a much smaller fraction of a car than one who owns one outright.
A pretty big thing you can do is keep stuff in there. This is perhaps a nice-to-have for many people, but for certain use-cases it's mandatory (ie a general contractor who keeps their tools in their truck.)
There's also the idea of doing clandestine things[1] in your car which you don't want some data vacuum to pick up.
Some people like racing, and/or doing work on their engines as well.
And of course, status symbols remain "in", this year and likely for the foreseeable future.
L5 autonomy does away the "typical" use-cases of personally owned vehicles (ie, move a person and maybe a few light goods a short to medium distance), which is great. Not everyone owns their vehicle purely as a point-to-point human transporter, though.
======
[1]: (Like planning surprise parties) | https://www.youtube.com/watch?v=bu5b_jYWVcQ&feature=youtu.be
(drivers are a big expense for such services)
Car insurance $220 (20h at minimum wage)
Car payment $780 (70h at minimum wage)
Gas $200 (18h at minimum wage)
Parking $250 (22h at minimum wage)
If I didn't enjoy driving and having a nice car, it would already be cheaper to Uber everywhere.
Average insurance in US is ~$100/m
Why own a car (pay taxes, insurance, parking), when you can have one at your door in a couple of minutes ? When you arrive at the destination, just exit the car - no need to look for parking or anything like that, let the car figure it out.
If technology can do that, then owning a car becomes more of a hobby than necessity. I hope GM's strategy is aligned with this, as the profits will not come from selling cars, but from providing the service.