How the Rise in Car Sharing will Affect OEMs and Captives
Ride hailing and sharing have ushered in a new era in the automotive industry. As consumer behaviour around using vehicles changes, manufacturers face growing pressure to adapt their business models to maintain profits and take advantage of emerging opportunities. The evolution of automotive industry business toward mobility services started with ride sharing and a shift towards autonomous vehicles. The rapid rise of companies like Uber and Lyft gave consumers new options for affordable transportation without having to own a car. Throw in services like DoorDash that bring the ride hailing business models to food delivery, and the need for a car for many consumers has begun to evolve.