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Ride-sharing services to have little impact on car sales, survey finds

Despite fears to the contrary, the emergence of the sharing economy may not lead to the death of Detroit, after all, according to a new study from automotive researcher Kelley Blue Book.

By Keith Naughton, Bloomberg | Updated on March 10, 2016
Car ownership was viewed as more reliable by 81% of those surveyed, safer by 80% of respondents and more convenient by 74% polled. (AP Photo/Mark Lennihan)

(Bloomberg) — Despite fears to the contrary, the emergence of the sharing economy may not lead to the death of Detroit, after all, according to a new study from automotive researcher Kelley Blue Book (KBB).

Car-sharing services such as Avis Budget Group Inc.’s Zipcar and ride-hailing services like Uber Technologies Inc. will remain substitutes for rental-car companies and taxis with little impact on vehicle ownership, according to the study conducted by Vital Findings for KBB. More than three-quarters of people who use ride-sharing services said they intend to purchase or lease their own vehicle within the next two years, according to the survey of 1,900 U.S. residents.

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