Rising costs of vehicle ownership are moving consumers toward mobility solutions, such as ride-hailing, car-sharing, and subscription services. That’s the conclusion of a new study on the evolution of mobility by Cox Automotive.

In a May 2018 survey of 1,250 U.S. consumers, Cox researchers found that a shift away from car ownership has already begun, and that shift “will continue as younger generations find mobility services increasingly appealing and ownership too expensive.” This emerging trend means that the industry needs to “rethink existing business models, extending core capabilities with an eye toward mobility.”

Read the full article at Cantin Automotive Insider.

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