11 January, 2019

Are the days of car ownership coming to an end?

Are the days of car ownership really coming to an end? Have you purchased your final car?

 

There are many within the automotive industry that believe that car ownership will progressively reduce over the coming decade and whilst our initial reaction may be to scoff at the idea, it might not be as absurd as we would necessarily think.

 

Although millions of brand new vehicles hit our roads every year, a large proportion of them are lease vehicles, some of which includes insurance, maintenance and servicing.

 

This uptake in an all inclusive car appeals to many car owners because they simply put fuel in and drive, the appeal being hassle free, maintenance free and convenient car use. But as more people lease their vehicles, they’re already indicating they don’t particularly want to own their vehicle.

 

Companies such as Uber are already focusing on autonomous driving and how artificial intelligence can compliment them, so it’s not a stretch to think that the convenience of an Uber style vehicle use system would appeal to many, where you have the convenience of a vehicle 24 hours per day 7 days per week, without the hassle of owning the car, such as insurance, maintenance, parking, being involved in a crash, breakdowns and more.

 

What do you think? Will car ownership be a thing of the past?

 

Why not have a look at some of the following articles which look at the future of the car industry :

 

Are the days of the private car really over (BBC)

https://www.bbc.co.uk/news/business-46794948

 

Why you have probably already bought your last car (BBC)

https://www.bbc.co.uk/news/business-45786690