Autohitch
Declining Vehicle Ownership Could Result In More Parts & Service?
There is no doubt that the exact future of vehicle ownership is a hot topic and one that many cannot agree on. Vehicle transactions may have been up on average, but a record number of those were leases. In addition, Uber and Lyft continue to grow in popularity especially in densely populated metropolitan areas where vehicle ownership has always and will always be an expensive proposition. Add to the mix the up and coming new option of Car Sharing, a way to rent other people's cars for hours or days at a time. So, if vehicle ownership slows, wouldn’t it be fair to assume that along with it would be a decline in parts and service? No, not even close!
You see, vehicle owners can choose when or if to do maintenance. If you drive for Uber, car share with Turo, or Lease, you don’t get that luxury. You either have standards you must meet on an annual basis or, as in the case of a lease, are required to come in at certain milestones for service without question. If you are driving for an Uber like service, or renting your vehicle out with a car sharing program, you are also in all likelihood using using using the vehicles more than the average car owner. This of course means more wear, tear, and inevitable maintenance.
If you add all of this up, as we have, it’s hard to conclude that engine fluids, aftermarket parts, and service departments (Mechanics) will see anything but a significant uptake in business in the coming years. When you think about it, going to the “Shop” for non owners is similar to the path health insurance tool: We used to only buy it when we thought we needed it, now we don’t have a choice.
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