Some experts in Silicon Valley and Wall Street have pushed a narrative that the day of Americans owning and operating their own vehicles will come to an end – and will be replaced by ride-hailing services operated by autonomous vehicles. While autonomous technology is coming, there is no evidence that consumers are interested in giving up their cars to exclusively ride hail. Most likely, consumers will continue to own their own vehicles with autonomous technology, and use ride-hailing services in addition to their own vehicle when it is convenient.

NADA commissioned a large scale research project in 2018, including focus groups and a national survey about the future of vehicle ownership. The key takeaway: Consumers love their cars, and have little interest in trading in their vehicles to exclusively ride-hail.

Key Points 

• Only 11% of vehicle owners would be interested in getting rid of their vehicles to exclusively ride-hail through services like Uber and Lyft.
• 94% of car owners say owning cars is convenient – compared to 6% who view car ownership as a hassle.
• Wait times for ride hailing is a key concern of car owners, who want to go where they want to go at a moment’s notice and not plan their trips.
• People want the freedom, flexibility, convenience and control that only vehicle ownership provides.