Depends on the trip. I've timed many trips bike vs. car in my city. Bike is usually faster (or very similar time) because the average speed through a city is actually pretty slow. There's a lot of "hurry up and wait" with cars (rush to get to the next red light) and on my bike I'm frequently passing long lines of cars stopped at lights.

And parking is a time sink. There's a place in my city that has huge parking garages with lots of parking but you still have to drive through a few levels of the garage, park, and then walk back down a few flights of stairs, then walk to your destination. I just park my bike right outside of my destination with the wheel lock. Street parking is always awful in populated cities, and I never have to worry about it. I always park right at my destination, where ever it is.

In suburbia, cars are faster because the average distance per trip is a lot longer. But it's ironic that the reason why the average distance is longer is BECAUSE it was built for cars so everything gets spread out! Cars are a solution to a problem that they created.