How can the car-sharing services impact dealers?

As popular as car sharing is right now, with both GM and Ford launching their respective services a new study by the Boston Consulting Group predicts it will have little impact on the auto industry.

In fact, it will cost the industry just 550,000 vehicle-sales worldwide in 2021, the year in which global auto sales are expected to approach 100 million vehicles.

Now granted, it’s predicted that the cost of that could end up totaling $8.2 billion dollars according to the study. However, Brian Collie, a Partner and Managing Director with BCG says, “The attention and buzz surrounding car-sharing and shared mobility is disproportionate to the impact it will have on vehicle sales.”

Right now, BCG says more than 1.5 million people currently share vehicles in North America, but despite that, collie believes car ownership will remain popular in the U.S., “in North America, the economics for owning a vehicle still works for most people. We have an affinity for having our own car or truck. Younger people may not care quite as much, but it still matters to them too.”