As Driving Declines, Automakers Look to Climb Aboard Sharing Economy

As vehicle ownership declines, car makers are looking for new lines of business. And for many, sharing services pave the way forward. 

Ford CEO Mark Fields, for one, now refers to the automaker as a "mobility company," and has launched a number of pilot programs into car- and ride-sharing services.

His counterpart at General Motors, Mary Barra, has since the beginning of the year approved investments into Lyft and Sidecar, while GM also has launched the new Maven car-sharing service.

A study by the University of Michigan Transportation found that among people aged 20 to 24, just three in four people are willing to go through the process of getting a license and registering a vehicle, down from more than nine in 10 in 1983. But the more surprising finding is that the trend isn't limited to so-called millennials.

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