Cake
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    • Lyft filed for public offering and part of their pitch to investors is the future of car ridership is not needing to own a car. They cite various geographies like the Euro Zone where car sales are plummeting.

      In the U.S. the story is mixed because passenger car sales are plummeted year over year by 13.5%, but trucks and pickups made the big automakers make up the difference.

      Is it really Uber and Lyft? How about cheap oil driving big vehicles? Don't Uber and Lyft drivers have to buy cars too?

    • According to studies I have read, ride sharing is increasing traffic congestion:

      They are drawing people away from mass transit and bicycling. We have always seen a trend of cheaper gasoline spurring larger vehicle sales. My personal guess is more people want to buy electric cars now but they are not yet good enough, except for Teslas, and Teslas are too expensive. Hybrid car sales are plummeting too, which I think means people are waiting for fully electric cars to get better and cheaper.

    • I am so looking forward to the time when I won't have a car. Just hail or rent what I need for the particular moment/trip. But, I'd say the circumstances are nowhere near to that right now. Too expensive, too much hassle, too much overhead.

      The problem with 'plummeting' car sales is not that much in the numbers themselves (drop is not that dramatic) the problem is that the margins, the process and manufacture of modern cars is so streamlined that missing projections by a couple of percentage points means significant troubles, especially when your plans are put together, set in motion and executed with projections a couple of years out. When you operate like that, on 4-5% of margin, 10% drop in sales is devastating.