Why Car Ownership is Unlikely to Die

By  //  April 15, 2020

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The rapid decrease of car sales and falling ownership might seem to suggest that car ownership will fade out in the future but looking closer it seems that this is unlikely and there are a few reasons as to why this is.

The rapid decrease of car sales and falling ownership might seem to suggest that car ownership will fade out in the future but looking closer it seems that this is unlikely and there are a few reasons as to why this is.

Read on to find out more about why car ownership is unlikely to die anytime soon.

Younger Generation’s Attitude

One of the primary arguments as to why car ownership will be a thing of the past in the near future is that the younger generation are no longer interested in cars and instead will rely on public transport.

While this might be true in some cases, there are still many that have a passion for automobiles but also the majority need them as a part of daily life whether this is driving to work, taking kids to school or going grocery shopping.

Eco Friendly

The younger generation are also becoming increasingly eco-conscious which is excellent news given the current circumstances.

While this might see them move away from pollutant vehicles, there has been a sharp rise in the sale of electric vehicles in recent times and this will only continue as the technology and infrastructure improve, there is a larger range to choose from and there is increasing pressure from the government. 

Automation

The gradual shift towards autonomous automobiles is another major reason why car ownership will remain high in the future.

This eliminates the stress and anxiety of driving which is thought to be a main reason why fewer young people are learning to drive but this will not be an issue with cars that can drive themselves – although this is still a way off, there are autonomous features constantly being introduced to make driving easier, safer and less stressful.

Finance Options

Many experts believe that the reason that car ownership has been in decline in recent years is not to do with attitudes or lifestyles but instead economic difficulties.

Buying and keeping a car on the road are major expenses which can be challenging for many, but the good news is that there are solutions in the form of car finance deals which can help to spread the cost.

There are even car finance deals for self-employed motorists from places like Go Car Credit which is important in a time where self-employment is on the rise in this country.

It is easy to look at falling sales figures and a decline in ownership and claim that car ownership will soon die out, but this seems unlikely when you consider the above factors and many experts predict that ownership will pick up again in the coming years.

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