As shared mobility gains traction in India, 51 per cent of millennials are questioning the need to own a vehicle, according to a global study by Deloitte.
As per Deloitte's 2019 Global Automotive Consumer Study, consumers in India feel empowered trusting the power of digital solutions that make their commute safer.
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New trend
It also said 76 per cent of respondents in India were in favour of connected vehicles with 84 per cent feeling that connected vehicles will be beneficial in providing suggestions regarding safer routes along with updates to improve road safety and prevent potential collisions.
"Shared mobility is another trend which is gaining momentum in India. The report uncovers a clear generational divide when it comes to shared mobility," Deloitte said.
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Generation gap
Compared to the older generation, younger consumers are more likely to understand the idea of shared mobility and to question whether vehicle ownership is a necessity.
Therefore, ride-hailing has been integrated in some markets and the concept is progressing in India, the report added.
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Why own?
As per the report, 51 per cent of Gen Y/Z users in India are questioning the need for an owned vehicle, while 44 per cent of Gen X have similar thoughts.
On the other hand, only 34 per cent of pre/boomers generation have questioned the need for an owned vehicle, the Deloitte added.
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The ownership trend
Currently in India, 47 per cent of consumers use their own vehicle everyday which is expected to increase to 50 per cent in the next three years, the report said.
As part the study, Deloitte said over 10,000 consumers across Australia, China, India, Japan, the Republic of Korea, and Southeast Asia shared their views on critical issues impacting the automotive sector
