Over the last couple of years, we have seen an extraordinary amount of changes in technology. But one thing has disrupted the way we used to travel. The advent of carsharing has clearly impacted us in one way or another. And people all over the world seem to be into carsharing. Here we are going to discuss why are people into carsharing, why are people not buying things, and why are they interested in sharing their new belongings?

Why are people into carsharing?

In order to understand the interest of people in carsharing, we need to understand why are they not buying cars at all. The car manufacturing industry is not happy with the millennials. Lance Eliot in Forbes put some research on this topic and came up with an interesting outtake.

Student Loans:

The most obvious one is the change in mindset that came from the fact that this generation is already crumbling under student loans. It has become quite difficult for them to buy a vehicle or real estate.

A depreciating asset:

Even if they have the money, they saw what happened in the most recent recession and are afraid about letting their savings go toward a vehicle.

The millennial mindset:

If the above-mentioned reasons were not enough, the millennials think of driving as a chore. Because of the mechanical parts, they are wary of it. Moreover, the increased traffic has increased their willingness to share a vehicle.

As per the report from Goldman Sachs:

Ridesharing may be a mixed blessing for the auto industry. The majority of vehicles worldwide are used only to commute or for short trips during the day, leaving them idle 95% of the time. If drivers decide to forgo ownership and access cars only when they need them, car sales may be hurt.

Connected cars—especially self-driving ones—could also change the way people use their drive time. In a 2013 survey, more than 50% of respondents said they would prefer to listen to music, talk on the phone, watch videos or browse the Internet while traveling by car.

By 2025, many developing nations will reach that level for the first time, creating a large demand for smaller cars with lower prices and lower operating costs. India, for example, will become the world’s third-largest car market by 2025, with 7.4 million vehicles. China, which has already experienced a boom in car ownership, will continue to grow, with car-sharing expected to become more popular.

The most interesting takeaway from the Connected Cars Consortium was the distribution of the companies. That basically depicted the market share of the Car Sharing markets. It was evident that China and North America are leading the way when it comes to vehicle sharing.

Role of MoboKey in carsharing

In all these circumstances, companies like MoboKey are acting as a facilitator in carsharing. MoboKey allows you to share your car with anyone you want for a specific amount of time.

You can start your carsharing company with nothing but a smartphone app.

Try out MoboKey now: Download your Mobokey application here: Go to Play Store or App Store!

Get more info about MoboKey: An App which is your Smartphone Car Key

Connect your car now. Order here!