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The car continues its rule of the road: but car ownership is evolving

The car’s popularity will stay strong in the upcoming mobility shift, but attitudes towards car ownership will change significantly, according to a new report released today. The Road Ahead: The Future of Mobility Report from mobility leader Avis Budget Group, reveals that over the next decade consumers are likely to move to an access-driven, on-demand model for their favourite mode of transportation.

Avis Budget Group

The report carried out and examined consumer research across 16 markets in Europe and Asia, and the UK findings have revealed that reports of the ‘death of the car’ are greatly exaggerated.

In the UK, 81% of respondents say that owning a car is still important to them – with 74% owning a car outright and 60% listing the car as their ‘ideal’ mode of transport. However, the trend for ownership is set to change, highlighted by almost half (44%) of participants claiming that they are prepared to give up owning a car in favour of long-term rental and on-demand or subscription services.

Interestingly, the report also found that Brits wish they could change their vehicle for summer holidays (40%) or weekends away (26%) – demonstrating the need for flexibility when it comes to different types of domestic travel.

These findings reflect the changing attitude towards car ownership across the globe, where more than half of those surveyed (54%) are open to alternative mobility solutions.

Keith Rankin, President, International, Avis Budget Group, said: “Driven by technology advancements and the influence of services like Amazon, Netflix and Spotify, people today want to consume and access products and services at the click of a button. The expectation for an on-demand service has impacted the mobility industry and resulted in the evolution we’re seeing today – from being able to book a taxi instantly to hiring a car for a week-long holiday, all from your smartphone. However, our report reveals that we are now seeing a rise in this demand for instant access and flexibility, resulting in changing behaviours towards car ownership.

“Changing needs and the expansion of the sharing economy offer both challenges and opportunities for the mobility industry. Our research has shown that whilst consumers are expectant of connected, integrated and on-demand services, they still want convenience at a reasonable price.

“It’s imperative that different mobility players work together to ensure the future needs of consumers are met. We have demonstrated the success of collaboration, as shown with our fleet management as a service (FMaaS) partnerships with Via and Lyft, and our agreements with Ford and Continental in providing connected cars. Our partnerships demonstrate well how the sector can work together to provide the on-demand and connected services that customers want. These can range from a technology giant delivering 5G, or local governments working with the private sector for improved, urban EV access for residents.”

The Avis Budget Group Road Ahead: The Future of Mobility Report examined the current and near future mobility landscape across markets in Europe and Asia.

Click here to read the report.

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