No, I think we are quite near to being able to achieve that.
There may be billions of vehicles on the road, but as soon as the system fails to be able to upkeep all the deployed capital required to maintain them in operating condition (road resurfacing, parts manufacture, refinement and transportation of fuel, maintaining the value of currency in order to motivate the workers to participate in all of the necessary steps, security from hostilities, roads not being flooded/melted, and so on). In such eventualities sizeable portions of the fleet may be rendered inoperable quite quickly and cars will be displaced, out of necessity, by walking.
What you're making is a different point, it's not that we can't displace hydrocarbons, it's that we can't displace them with something equivalent-or-better. We can probably displace cars with walking, concrete structures with ad-hoc shelters, and hospitals with prayer. That is all not just very achievable, but has actually been increasing in inevitability during our prior decades of "inaction" (obviously you can't really call it inaction when we're taking positives steps to hasten these outcomes)