The Next Level of Carpooling

| 7/2/2018 9:19:00 AM

Tags: Haden Kirkpatrick, Esurance, self-driving cars,

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The idea of “access vs. ownership” has recently become a major trend that impacts consumer models across categories. According to marketing strategists, Gen Y, Gen Z and even some Gen X consumers are foregoing the American consumerism model in favor of “access” or “partial access” models. In other words, they’re reducing the things they own in favor of experiences like travel. 

Nowhere is this dynamic more impactful than in the future of car ownership. Ridesharing companies like Uber and Lyft are already changing traditional transportation paradigms around the world, and fractional or access-based solutions like GetAround and Turo are changing the nature vehicle ownership and car access. This trend will accelerate as driverless vehicles shift from car ownership to a ride-hailing model. Absorbing the upfront purchase costs and ongoing maintenance of a car you only drive five percent of the time loses appeal in an environment where door-to-door service is available in the palm of your hand. Recent research from Esurance estimates that families could save $4,146 annually just by using fleet-owned autonomous vehicles instead of owning their own cars.

The shifting consumer trends, combined with the technological innovations, are turning heads in America’s biggest industries. Auto behemoths Ford and General Motors are already tapping the ridesharing space as part of their self-driving initiatives, and Google’s Waymo plans to roll out their robo-taxi service in Phoenix later this year.

While traditional car ownership won’t immediately go away, the trend toward fleet-owned, self-driving cars will only continue to increase. Your two-car family in the ’burbs may opt for one car, say, and urban one-car homes may get rid of them altogether.

This is a boon for your wallet and a win for the environment — and our wellbeing. On top of saving time, fuel, insurance premiums and high blood pressure (fewer cars means less traffic), here are some of the ways the future of ride-hailing can help shrink our eco-footprint.  

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