Car Sharing to Slow Vehicle Purchases Study Says
While the U.S. auto industry may be posting reasonably strong results, a new study suggests that car-sharing services, in which drivers rent vehicles commercially or through peer-to-peer networks without going to a traditional car-rental location, will have a greater negative impact than previously thought.
Translation: sharing is sobering.
According to the study, which was conducted by AlixPartners and surveyed 1,000 licensed drivers in 10 developed metropolitan car-sharing markets in the U.S. and 1,000 drivers nationally, car sharing appears to be displacing vehicle purchases at a rate of 32 to 1 (one car-sharing fleet vehicle displacing 32 vehicles that would have otherwise been purchased).
That’s more than double the rate of many studies that have focused only on national averages. To date, according to the AlixPartners study, approximately 500,000 vehicle purchases nationally have been avoided due to car sharing.
In addition, the study suggests that as car sharing grows in popularity, it could account for approximately 1.2 million more purchases avoided through 2020.
Respondents in the 10 key markets picked ease of access, convenience and economics as key reasons for car sharing. Environmentalism, often regarded as a chief motivator for car sharing, was last among reasons selected (out of five possibilities).
Meanwhile, 51 percent said they have avoided vehicle purchases due to car sharing and 45 percent indicated that they expect to avoid a future purchase. The survey also revealed that avoidance of personal-vehicle purchase is highest among younger consumers and, perhaps somewhat surprisingly, households with children – both possible harbingers for the auto industry.
More info at: www.alixpartners.com
Category: General Update, Vehicles
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