People will continue to buy and own cars.

People will continue to buy and own cars.

April 1, 2019 0 By autotimesnews

In the past few years, automakers and industry analysts have promoted the idea that car ownership will soon become a thing of the past. Instead, everyone will use either autonomous vehicles as a taxi or per-minute rental services.

Referring to the reduction in the number of car owners among young people, car companies began to introduce car use programs for a paid subscription, because, they argue, a large part of the population is simply not interested in purchasing and further servicing cars.

However, new studies from the authoritative publication Bloomberg indicate that reports of a decrease in the number of car owners may be greatly exaggerated.

A 2017 document written by Nicholas Klein of Columbia University and Michael Smart of Rutgers University concluded that only those people in difficult financial situations have fewer cars than the previous generation. Those young people who have achieved financial independence actually have far more cars than they did ten years ago.

A separate study by Christopher Knittel from the Massachusetts Institute of Technology and Elizabat Merf from the energy company Genser Energy also shows that the current generation of young people drive their own vehicles much more often than their predecessors.

In 2016, Lyft co-founder, John Zimmer, suggested that by 2025, car ownership in major cities in the United States would almost disappear as such. However, based on the results of recent studies, this seems highly unlikely. Thus, lovers of autonomous transport or cars by subscription will be more likely in the minority.