Will Lyft and Uber make ‘car cutting’ the new cord cutting?

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Will Lyft and Uber make ‘car cutting’ the new cord cutting?
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Will people stop buying cars altogether?

When the time came for Robert Farrington to replace his car, which was over a decade old and had more than 100,000 miles, he decided not to buy one. Instead, he chose to use Uber and Lyft. His family still owned another car, but he primarily traveled via ride-sharing.

And rather than persuading people against buying cars, new research suggests that services like Lyft and Uber might instead be putting more cars on the road and dissuading people from using public transit.Uber and Lyft may be causing worse traffic in the country’s biggest cities A July 2018 report from transportation consultant Bruce Schaller found that companies like Lyft and Uber added 5.

Moreover, Uber said that ride-hailing services have benefited residents of suburbs and small towns without extensive public transportation options. “We’re growing in markets where there was no alternative to driving your own car, providing a vital lifeline to seniors and others unable to drive,” a company spokesman said in an email to MarketWatch.

But it’s not just that people are choosing to get rid of their cars — many more people these days are just opting not to drive in the first place. Between 1983 and 2014, the percentage of people between the ages of 16 and 44 who held a driver’s license decreased from 91.8% to 76.7%, according to the University of Michigan’s Transportation Research Institute.The shift away car ownership is even more notable when taking car-sharing services such as Zipcar and car2go into account.

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