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Car-Sharing Services Likely to Erode Auto Sales, Revenues

New study forecasts 35 million people will use car-sharing services.

by on Feb.23, 2016

A Smart car in Berlin, part of Daimler's car2go car-sharing service.

The auto industry could take a big hit to sales and revenues as car-sharing services take hold around the world, warns a new study.

As many as 35 million people will use car-sharing services each month by the beginning of the next decade, forecasts the Boston Consulting Group. That will reduce global car sales by at least 550,000 vehicles by 2021, automakers taking a revenue hit of 7.4 billion euros, or $8.14 billion at the current exchange rate.

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But the situation could get even more challenging later in the coming decade. As self-driving cars start to come to market in large numbers. “Autonomous vehicles will have a much greater impact on new-car sales than car-sharing will,” the study concludes.

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