BMW and Mercedes are planning to test car subscription services this year. The car industry is highly cyclical, which can result in volatility. Auto companies hope subscription-based and other mobility services will make revenue more consistent. The auto industry has posted strong sales numbers in recent years, which has made car manufacturers and dealerships scared about the future. That’s because the auto industry is a cyclical business and the industry is bracing for a downturn. But the auto industry thinks it might have the solution to its boom-or-bust nature: car subscriptions. Under this model, consumers would pay a subscription fee each month for the right to use a certain brand’s vehicles. Instead of buying a new car every few years, customers would pay car companies every month, which could make revenue more stable for manufacturers. Brands like Cadillac, Lincoln, Porsche, and Volvo have tested … [Read more...] about Mercedes and BMW are rolling out a subscription service for cars — and it could help solve the biggest problem in the auto industry
By People’s Daily China’s bike-sharing industry has embraced an explosive growth since last year. Data showed that by the end of last year, millions of bikes offered by over 20 bike-sharing companies have expanded their service to nearly 19 million users. The bike-sharing service enables users to find, unlock and pay to rent the bicycles through a smartphone app. Mobike and Ofo are among the two largest of a growing crop of private bike-sharing operators. Ofo, the company behind the yellow two-wheelers, announced on 1st of March that it has raised 3.1 billion yuan ($450 million) in a fresh round of funding. It not only represents the largest single deal in terms of fund raised by a bike-sharing firm, but also swells the firm to the industry’s richest unicorn, a start-up company valued at over 1 billion dollars. Public bike is not a fresh thing. Many Chinese cities have launched public bikes previously to meet the citizens’ demands for the “last … [Read more...] about China’s bike-sharing industry braces for explosive growth
By (AFP) Frankfurt Am Main– A boom in car-sharing could slash the number of vehicles on European roads by 80 million by 2030, a study published Monday predicts. But roads could become busier even as Europe’s fleet of cars falls from 280 to 200 million, consultancy PwC forecasts, as shared vehicles will be used much more frequently than privately-owned ones. ”Within a few years, the present norm under which most people drive their own car will be just one mobility concept among many,” PwC auto expert Christoph Stuermer said. The experts believe up to one in three kilometers travelled on European roads could use some form of car-sharing in future, predicting that services will become just as accessible in the countryside as in cities. Increasing numbers of electric and self-driving cars will encourage people to try out car-sharing, PwC expects. And self-driving cars will make some journeys with no human on board at all, for example on their way to pick up … [Read more...] about Car-sharing means fewer cars, busier roads in 2030
By Wilson Chua How can Metro Manila solve its horrific traffic? Is MMDA’s no-window Color coding actually helping to reduce the vehicle volume? Anecdotal evidence say otherwise as people just buy more cars. This defeats the color coding scheme. Could Grab’s Ride sharing be a better solution? I listen to Anthony and Hooi Ling talk about Grab and their successes. It was their 5th year anniversary. Along the way, I can’t help but think about the following upsides of Ride sharing: Grab’s Ride-sharing service puts “more people into fewer vehicles”. This increases both the efficiency of cars and the number of passengers per car. It is quite easy to see that a parked personal car is wasted most of the day. While a ride sharing car is in use most of the times to ferry passengers. More to the point, Grabshare has since booked over 8 million rides and 72 million kilometers traveled in Asia. This removed a whopping 19,000 cars off the road. It also saved an … [Read more...] about Can Ride Sharing ease Traffic?
41% of Uber and Lyft customers in Austin, Texas, reported they switched to their own personal car after those apps suspended service in that city. 37% of car-share rental app users in London reported they decided not to buy a car, according to a study by Imperial College. And a YouGov poll says 43% of Londoners regard Uber as a genuine alternative to owning a car. The UK has experienced a sudden decline in car sales even though the economy is growing. Apps like Uber and DriveNow may be doing to cars what the web already did to newspapers: Two academic studies published this year have shown that people say they will reduce their use and ownership of private cars when they have access to ridesharing apps like Uber and Lyft, or car-sharing apps like DriveNow. A team of researchers at the University of Michigan Transportation Research Institute, Texas A&M Transportation Institute, and Columbia University, found that 1,840 users … [Read more...] about Apps like Uber and DriveNow may be hurting the demand for new cars, studies suggest
Uber has promised to commit millions of pounds towards combating air pollution in London and the UK through a new “Clean Air Fund”, which will subsidise driver purchases of eco-friendly cars. The San Francisco taxi-hailing company announced its “Clean Air Plan” on Friday (as rival Taxify halted its operations after running into regulatory issues) alongside a number of measures that should help to make the city’s air less toxic. Uber said it is committing £2 million to the Clean Air Fund, which will launch next month. The fund will be used to hand drivers up to £5,000 towards the cost of upgrading their normal car to a fully electric vehicle, such as a Toyota Prius. And the firm promised to add 35p more to the fund every time someone takes a ride through its app in London. That means, for example, £350 will be added to the fund after 3,000 rides. But there’s a catch. All Uber rides in London are going to become 35p … [Read more...] about Uber is making rides more expensive so it can give UK drivers up to £5,000 if they buy greener cars
Few issues have polarized Torontonians in recent years like the prospect of charging drivers more to use the city’s roads. But almost six years after voters elected a mayor who promised to end “the war on the car,” road pricing is again on council’s agenda. Faced with mounting infrastructure costs, including a $2.6 billion price tag for rehabilitating the Gardiner Expressway, last June council voted to study the idea of tolling the Gardiner and the Don Valley Parkway. A final report is expected later this year. Even those who backed the report aren’t thrilled about the idea of tolling drivers. “No one likes road tolls. I don’t like road tolls,” said Councillor John Campbell. “But road tolls are a means by which we’ll be able to better fiscally manage our capital needs.” His ambivalence might have something to do with how hard it is to answer the question that councillors must consider before hitting up car-owners for … [Read more...] about Are Toronto drivers paying their fair share?
Toronto police officer Rob North saw the robbery suspect standing in the middle of Rankin Cres., feeding a shell into a single-barrel shotgun. North, responding to a report of a Beer Store holdup, stopped his squad car on an angle, thinking he could get out and behind it for cover. The suspect, Jeron Powell, saw North getting out of his cruiser about 30 metres up the road, and swung the gun up, hip-level. “When he raised it, I knew right away that this wasn’t good,” North recalled. Hours earlier, Powell had rented the 12-gauge, sawed-off shotgun for $200 and a day’s work from a man in an Etobicoke housing project. … [Read more...] about Star investigation: Guns being rented, shared on Toronto’s streets
Uber has launched a cheaper version of its smartphone taxi app called UberX that allows ordinary drivers who have been pre-screened to pick up passengers in their own cars. Uber officials say the UberX ride-sharing service, which launched Monday in Toronto and Mississauga, will bring fares down as much as 40 per cent compared with traditional taxi rides including its Uber service. A ride from the downtown financial district to Yonge and Eglinton will cost about $12 with the UberX service, compared with $19 with taxi, according to UberX. The price will, of course, depend on traffic. A ride starts at $2.75 for the base fare plus 90 cents per kilometre and 30 cents per minute, plus a $1 surcharge that goes toward safety training. The UberX driver will pay a 20 per cent fee to the company and pocket the rest. But the City of Toronto is seeking advice about the service from the legal department and is reviewing legal options. “Based on the information currently available, the City is … [Read more...] about Uber introduces ride-sharing UberX to Toronto, Mississauga
The portion of Torontonians who drive to work has declined over the last decade while the portion commuting by public transit has increased, signalling that even without the construction of major new transit infrastructure during the past 10 years the city is moving in the right direction when it comes to decreasing residents’ reliance on the car. According to 2016 long-form census data released Wednesday by Statistics Canada, the share of Torontonians who drive their own car, truck, or van to work decreased by 7 per cent in the 10 years since 2006. Over the same period, the share of people commuting by transit increased by 7.7 per cent. The Greater Toronto Area saw the same trend, although the drop in the portion of commuters who drove was less pronounced. Across the GTA, the portion of those commuting by private vehicle fell 1.8 per cent since 2006, while public transit use rose by 10.1 per cent. … [Read more...] about Share of Torontonians taking public transit is on the rise, while reliance on cars declines