Owning an automobile is falling out of favor in cities around the world as ride-hailing and other new transportation options proliferate and concerns over gridlock and pollution spark a reevaluation of privately owned wheels.
A decade ago the auto industry predicted annual global vehicle sales would top 100 million by now, but they’ve stalled instead, falling to 94.2 million last year, down 1 million from 2017.
“I would never go back to owning a car,” says Larry Kim, chief executive officer of MobileMonkey Inc., a Facebook Messenger marketing platform, who says he’s recovered an hour a day by not driving. “Your time is not free, right? Your time is worth more than $20 an hour. So in my case, why not spend $15,000 to $20,000 a year to get all of that time saved?”
Read the article at Bloomberg.
The post The Success of Mobility Services is Chipping Away at Auto Sales appeared first on Fleet Management Weekly.
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