The auto retailing industry could see tremendous changes between now and 2030, according to Mark O’Neil, chief operating officer (COO) of automotive services and software firm Cox Automotive.
At the company’s recent mid-year review in Detroit, O’Neil said trends indicate that average household vehicle ownership will drop substantially in coming years, perhaps from two vehicles per household to one. “People would have the need for two cars,” he said, “but they would only own one. They would turn to ride-sharing or subscription services for the other.”
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