No, it does not. The subway is practically always faster.

If we're talking about driving (and parking) your own car, then for all intents and purposes, no, it doesn't matter. If you spend $800/month on 2 reserved parking spots, on top of insane car insurance, you might be able to shave 5 mins off a few trips within Manhattan compared with taking the metro, but normal people don't use personal cars in Manhattan unless they're moving heavy cargo or driving out of the city.