KBB: Ride Sharing Not an Imminent Threat to Dealerships
March 10, 2016
IRVINE, Calif. — While the amount of people using car- and ride-sharing programs has grown in recent years, results of a new Kelley Blue Book study reveals these services are not an imminent threat to new-car buying and vehicle ownership.
The 2016 Kelley Blue Book Ride Sharing/Car Sharing Study commissioned by Kelley Blue Book and conducted by Vital Findings sought to understand the motivations behind ride-sharing and car-sharing usage. The study found that services like Uber, Lyft and ZipCar have had limited impact on current or future vehicle ownership.
These services, the study found, are mainly being used as substitutes for taxis and rental car companies.
“Ride- and car-sharing services are getting a lot of attention these days, and we wanted to better understand the current landscape of these app-fueled platforms and how they may impact both consumers and the auto industry moving forward,” said Karl Brauer, senior analyst for Kelley Blue Book. “While there are numerous benefits to ride sharing and car sharing, our data reveals that owning a car still reigns supreme, with reliability, safety and convenience all being major factors.”
The study found that the majority of respondents felt owning a car gave them a sense of freedom and independence, with 74% of consumers polled indicating they would be primarily driving themselves in the next six months.
Additionally, 24% of those surveyed said they would consider vehicle dealerships as a potential ride-sharing provider, while 16% said they would use a ride-sharing service offered by a vehicle manufacturer.
The study surveyed more than 1,900 U.S. residents between the ages of 18 and 64.