Is the sharing economy putting the brakes on traditional car ownership?
From our UK edition
The traditional notion of car ownership is under threat. Tech innovation, the sharing economy, and the soaring cost of running a vehicle are giving rise to a new age of driving. Increasingly, drivers are choosing to carpool, share vehicles or borrow from others when they need them. Attitudes are changing from absolute car ownership to a more flexible, fluid approach to driving. The car insurance industry needs to respond to this by becoming more flexible and cost-effective for drivers. There is little doubt that the car industry is in flux. New car sales have fallen for eight consecutive months. We’ve also seen a record decline in teenagers learning how to drive.
