[iso1631]

Average cost of owning a car in the UK is more than that, especially in London where there is limited land

And very few people have a travelcard for the entire city, just you payg on your phone/watch/card for what you use. Unless you literally are crossing London 10 times a week an annual travel card is meaningless.

[multjoy]

Ackshually, an annual Z1-3 travel card (other zones are available) costs the same as 40 weeks at the weekly cap (£43.50 vs £1740).

If your weekly travel sees you routinely hitting the cap then a travel card may represent better value.

[iso1631]

Very few people travel zone 1-3 enough to hit a weekly cap, even before covid, hence very few annual travelcards were sold in London.