CEO SAHAB
Mobility Players Propel Car Sales Forward
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Summary: The automotive industry is set to witness a significant shift as shared mobility services are projected to boost car sales by FY24. With an increasing consumer preference for shared mobility over owning cars, companies like Ola and Uber are influencing market dynamics. The penetration of shared cabs is anticipated to reach 15% by FY24, marking a substantial impact on vehicle purchases.
Key Points:
Increased Penetration: Shared mobility cab penetration is expected to rise from 5.2% in 2019 to 7.5% by 2024.
Market Recovery: Despite the pandemic, the market is projected to recover robustly by FY24.
Environmental Concerns: Eco-conscious consumers are opting for greener transportation alternatives.
Growth Factors: Cost-effectiveness and convenience are driving the shift towards shared mobility.
