Cars have an edge on transit because orders of magnitude more money is spent on the road system and on the vehicles than is spent on PT. Despite that, PT tends to be faster in cities, where it's simply not possible to jam more cars in (it turns out only carrying one person per car is a truly massive capacity constraint.
Cars will probably always be better in low density areas, as it's not reasonable to serve all areas with reasonable quality of service, but in any kind of reasonable high density environment properly separated PT (ie. not lumped in with car traffic) will have huge capacity and speed advantages.