The primary thing that makes a bicycle more efficient than a car is that it weighs around an order of magnitude less than the passenger, rather than the other way around. The second most important factor is that it travels at (and is optimized to travel at) relatively low speeds.
The fact that it's powered, essentially, by food calories is actually one of its least efficient aspects (raw food vegan locavores potentially excepted).
The cool thing is that means you can power a small electric vehicle essentially for free (both financially and environmentally). So people who are unwilling or unable to work up a sweat on the way to work can still take part in most of the benefits of cycling.