Uber and Lyft will turn the wheel of car ownership: industry experts

TORONTO (Reuters) – Applications such as those from Uber Technologies and Lyft Inc. are expected to alter the current state of automotive ownership in favor of subscription-based services and shared ownership, experts said Wednesday. automotive industry.

At the annual collision conference in Toronto, speakers said that mobile phone applications would also play a role in automation testing for security.

"Your phone will be your car," said Andre Haddad, CEO of Turo, a peer-to-peer car-sharing company that allows users to rent their car to others.

Haddad said that although car sales have never been so high globally, people realize that owning a vehicle is becoming increasingly unaffordable because of payments, insurance and parking. .

"Many others realize that they can share their car when they do not use it or rent it to recover the big costs of ownership," he added.

Uber said it was the largest of its kind in the world, with 91 million users worldwide and a 65% market share in North America.

Uber and Lyft have both gone public this year, but are trading well below their bid prices.

Haddad said that the number of cars owned by young adults was declining, with fewer adults under the age of 25 buying a car.

At the same time, he said that demographics would stabilize and that the demand for cars for events such as weekend trips or vacations would keep them interested.

Scott Hempy, CEO of Filld, a mobile gas distribution service, said that work trends, such as working remotely or at home, had contributed to the reduction of interest in cars and fees.

According to Zaki Fasihuddin, CEO of Volvo Cars Technology, fleets and taxis for car-sharing should provide a testing ground for automation. Fasihuddin said carpool cars would be the first practical applications for autonomous vehicles, with the ultimate goal of reducing all deaths.

"Give consumers a choice," said Fasihuddin. "Carpooling is a viable option. Nowadays, people take this for granted, and it is a valuable means of transportation.