Evolving beyond car ownership

The transportation experience is constantly changing and new markets are always emerging to move beyond what is standard. This article presents several different options for those who want to use a car but don't want to own a car or more likely can't afford to buy a car.

Today’s drivers have a vast array of options that go well beyond traditional vehicle ownership. Consumers are now considering electric vehicle (EV) ownership, software-defined vehicles, digital purchasing experiences, flexible car ownership and car-subscription models—just to name a few.

The most important driver of change is the concern around personal financial capacity in a period of prolonged global economic uncertainty.

Emerging mobility providers are disrupting the industry with innovative ownership models that offer quick, hassle-free, app-enabled transportation.

Car subscription models, unlike traditional vehicle lease and loan programs, offer flexibility as well as the convenience of bundled services.

Expense is a key consideration for younger consumers as they balance the need for mobility against the backdrop of significant financial pressures in an uncertain economic environment.

A next-gen approach that recognizes the need for flexible, affordable alternatives to personal car ownership may find opportunities for growth amidst prolonged economic uncertainty and the global push for decarbonization.

The findings from this article presents an interesting research conclusion of itself by correlating that affordability in the current economy is on the forefront of consumers priorities and they are able to tie that to emerging models that allow the possession of a form of personal transportation without the burden of owning a car. I would like to look more into possible market trends in the way users are interacting with and owning cars to see whether there are any other opportunities for action.

Affordability is also a mantra of many families and as important of a consideration as anything else. If flexible car ownership models might be the trend that some families begin to take, then does that mean that there is a community of cars that participate in this system? If so, then maybe as designers we can start to ask ourselves what a standardized car should look like for a family or a single person or a couple.

References

Deloitte. (2023, January). Beyond vehicle ownership: Changing the way consumers think about mobility. deloitte.com. https://www.deloitte.com/us/en/industries/consumer/articles/electric-vehicle-flexible-ownership.html