This week, Cox Automotive debuted the third phase of its Evolution of Mobility Study series. The first two phases explored consumer and dealer attitudes toward emerging transportation options, and painted a complete picture of the mobility landscape as it exists today. The third phase highlights the impact that broad access to new forms of mobility will have on adoption, as well as the price points at which consumers begin to shift away from personal ownership and toward fleet. We call this phase of research The Evolution of Mobility: Four Predictions for the Future.
This phase is crucial because it shows us how consumers will begin using transportation differently. Significantly, it also points to what we as Cox Automotive can impact as a company—not only as this new future takes shape, but today—right now.
From Isabelle Helms, vice president of Research & Market Intelligence at Cox Automotive:
“Bottom line: the smart, new alternatives to car ownership will have an impact on retail car sales in the future. As with any consumer product, awareness, accessibility and cost will be the main drivers. Consumers are open to finding alternatives to traditional car ownership. As new solutions are introduced, consumers, particularly the Millennials and Gen Z, may move away from the traditional avenue of personal vehicle ownership.”
Download a full version of The Evolution of Mobility: Four Predictions for the Future.
The second phase of Cox Automotive’s three-part study series, released in October 2018, focused on Dealer Perceptions.