A study by Kelley Blue Book/Vital Findings, published Thursday, found that ride sharing does not pose a threat to the automotive industry or consumer car-purchasing habits.
“While there are numerous benefits to ride sharing and car sharing, our data reveals that owning a car still reigns supreme, with reliability, safety and convenience all being major factors,” the report found.
The survey found that ride sharing services largely serve as substitutes for taxis or rental car companies, and that consumers still value automotive ownership in much the same way they have in previous decades:
When asked what statements about owning or leasing a vehicle respondents agree with, 80 per cent completely or somewhat agreed that owning or leasing a vehicle provides a sense of freedom and independence, followed by 62 per cent that completely or somewhat agreed that owning or leasing a vehicle gives you a sense of pride/success.
Those statistics may come as a surprise to an industry, which by all signs has been preparing itself for a massive overhaul in the way people move.
The study is the second piece of good news for carmakers this week: on Wednesday, the AP reported that despite fears that Millennials were not buying cars, the largest generation of Americans are now responsible for 28 per cent of car purchases, up from just 18 per cent in 2010.
But beyond valuing ownership, many shared that they were uncomfortable with the services.
While two-thirds of respondents did identify ride-sharing as an excellent way to combat drunk driving, only one third deemed ride-sharing to be “safe.”
“In fact, 48 per cent stated they wouldn’t be comfortable riding alone with a ride-share driver,” the report said.