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Study: Car-Sharing Services Are Trimming Auto Sales
The growth of car-sharing services in the U.S. such as Zipcar Inc. eliminated the sales of about 500,000 new or used cars between 2006 and 2013, according to an estimate by Southfield, Mich.-based consultants AlexPartners LLP.
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The growth of car-sharing services in the U.S. such as Zipcar Inc. eliminated the sales of about 500,000 new or used cars between 2006 and 2013, according to an estimate by Southfield, Mich.-based consultants AlexPartners LLP.
The firm tells The Wall Street Journal that the lost sales represent consumers who would have purchased a vehicle during that period if they didn't have a car-sharing service to use instead. The services provide short-term/short-distance car rentals.
AlexPartners, which polled car-share users in 10 major American cities, estimates that about half of regular customers end up either opting not to buy a car or selling one they already own.
The firm estimates that 4 million people in the U.S. will use car sharing by 2020. Zipcar, which claims 850,000 members, says its revenue climbed to $279 million in 2012 from $106 million in 2008, the Journal reports.
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