Car Ownership is on it's way Out

Podcast Episode: 0118
Why are moving away from owning our own Vehicles?

     Has our ride along the personal transportation highway, finally hit the wall?  With the rise of subscription and ride hailing services, can out appetite for personal transportation ownership hold strong?  This is a question which AutoLooks looks at on this podcast episode.

    Just a few years ago, the auto industry seemed like it was the biggest thing the world had ever seen.  With a rising middle class in the BRIC nations (Brazil, Russia, India & China), it seemed like there was no end to ownership around the world.  But, like everything else, this world eventually has to hit a wall.

    A fall in global markets in both 2008 and 2020, has seen a decrease in the industrialized world, with vehicle ownership.  In 2008 we saw a drop due to the decrease in work and increase in costs.  This has led to the 1.4 car driveway we have today.  But, now we are seeing an increase in urbanization, even after a rush to the suburbs.  And as this urbanization increases, our need for vehicles will decrease

      Today we are seeing a decrease in younger buyers, in many industrialized nations, as our need for travel is answered by others.  With the rise of ride sharing and now subscriptions cars, the world of ownership seems to be drying up as we move into the city.  But, can we help 

​slow this trend.  And how can we maintain the auto companies of today?   This is a question for AutoLooks.

Everett J.
​#autolooks