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Experts Say Car Sharing Services Not Hurting the Car Buying Market


Millennials are being considered the game changers of all generations past when it comes to not being afraid of change. The massive number of them are very into being themselves and not conforming to the ways that once were in many terms. Buying cars for example, experts were once of the opinion that with all of the success of car sharing services growing rapidly that the car buying industry would take quite a hit, but now it appears that isn’t the case.

Car sharing for those not familiar with it, is when you sign up for an app on your smartphone that offers various car rides in most big cities. You simply login, type in your destination, get a rate for the ride needed, and get to choose from a slew of available drivers in your area. The concept of it alone is pretty much piggybacking a taxi ride, with less waiting around for a ride, and giving you more of a friendly option that may not be as impersonal as conventional cab rides.

Experts are reporting that millennials are still buying cars, and even at numbers similar to a successful auto sales time prior to the massive housing crash. There are over 1 million users on the popular car sharing apps, which shows promising growth from 2013. There are even car sharing apps that now allow someone to rent someone else’s car for various trips as agreed upon by both parties, which is pretty cool if you can’t go through a traditional car rental service for whatever reason.

The presumption is that the previous assumptions were just reaching, according to Freep. The millennials that are at least 25 years old accounted for 27% of the new car purchases last year, so they clearly have nothing against owning their own cars. This is excellent news for the worried car dealerships and manufacturers around the globe that once thought car sharing apps would be the demise of the auto buying industry.