Ride-Hailing Users Open to Giving Up Their Car

Ride-Hailing Users Open to Giving Up Their Car

Consumers overwhelmingly satisfied with ride-share experiences
A person waiting for their ride share pickup

For many consumers, ride-hailing services such as Uber and Lyft have made it more convenient to get around. However, new research suggests that these services could have a bigger impact on the transportation landscape.

Strategy and consulting firm Accenture analyzed the ride-share market to learn what consumers think about it. Accenture polled 1,003 users of ride-hailing companies to ask them about their usage patterns and whether they would be open to receiving additional services.

An overwhelming percentage of respondents (92%) expressed satisfaction with their experiences using ride-hailing services. And 93% said they expect to spend either the same amount on ride-share services this year or even more.

That in itself is good news for ride-share companies, but another finding suggests that some consumers have plans to be customers for a long time. Nearly two-thirds of respondents (63%) said they would consider giving up their car in the next decade and using ride-hailing services instead.

Loyalty to the service, but not to the brand

A majority of respondents (52%) said they have switched between ride-hailing brands, suggesting that they view those companies as interchangeable.

Trust could be a factor for some consumers, as 69% said it’s important that their personal data be protected during the ride-hailing experience. However, only 27% of those surveyed said they have complete trust in their provider’s ability to protect their personal data.

Consumers are more likely to share their data with companies they perceive to be socially-conscious and that give back to their communities, according to a previous Accenture study. Only 29% of respondents in the ride-hailing survey said they believed their go-to ride-hailing service is an advocate for environmental and social issues.

Ride-hailing services of the future

Consumers are less interested in auxiliary services offered by ride-share companies. Less than half (42%) of those surveyed showed interest in alternative offerings such as food delivery, as well as the option of using bicycles and scooters.

Yet, a majority of respondents said they would be willing to ride in an autonomous or self-driving vehicle in the next year:

  • 62% would ride in an autonomous ride-hailing vehicle
  • 61% would ride in their own autonomous vehicle
  • 56% would ride in an autonomous public bus

Some consumers may find that they save money by getting rid of their cars and using ride-share services instead. If you’re considering getting rid of your car, compare the costs of using ride-share services to the costs of car ownership. For example, add up what you spend each year on car insurance and consider what the average consumer spends on transportation on an annual basis. Also, consider the convenience factor, particularly if you live in a rural area or don’t live near public transportation.

Tamara E. Holmes

Tamara E. Holmes is a Washington, DC-based writer who covers personal finance, entrepreneurship and careers.