Ride sharing, car sharing pose no threat to car buying

Ride sharing, car sharing pose no threat to car buying

Ride sharing services, such as Uber and Lyft, and car sharing services, such as Zipcar, pose no threat to car buying, according to a new study from Kelley Blue Book. The sharing platforms are primarily used as substitutes for taxis and traditional rental car companies, not as substitutes for owning a car. More than three-quarters of car-sharing users said they intend to buy or lease their own vehicle in the next two years.

–Our data reveals that owning a car still reigns supreme, with reliability, safety and convenience all being major factors,” said Karl Brauer, senior analyst for Kelley Blue Book.

More than half of those surveyed said the main reason they donêt own a car is affordability. Nearly one-quarter of respondents said they would consider a car dealership as a potential ride sharing provider.