I don't think this figure is accurate, but even so this isn't something I would want to accept - regardless of a convincing calculation that it is a net benefit.

Just an example:

https://www.nerdwallet.com/article/loans/auto-loans/total-co...

"For vehicles driven 15,000 miles a year, average car ownership costs were $9,666 a year, or $806 a month, in 2021, according to AAA"

VS https://bicycleuniverse.com/how-much-does-a-bike-cost/

So the figure is accurate.

So what? The costs are kind of meaningless when you walk out of the grocery store with a cart full of frozen food, only to find your bike was stolen. Normal people aren't willing to tolerate that level of hassle and uncertainty just for the possibility of some minor cost savings.