Not everywhere has a high theft rate and one can insure a bicycle. Cars need fuel, usually gas/diesel, but sometimes electric, and the costs to maintain is much higher.

Besides, if you do get in a pinch, you can roll your bike with you while you walk in many cases. In the cases where you cannot, you can usually leave it locked somewhere and fetch it later on. You can do this in ways that you cannot in a car.

Besides, a bicycle only takes a portion of the materials to make a car - even two of them only take a portion. It is still friendlier.