Joint Car Ownership Trend Is Catching Up In Developed Countries

Owning a car in bigger cities can be hard whether you live in Pakistan or in some foreign country. The taxes in others are quite high as well. Besides, although we don’t have an appropriate mass transit system (Metro buses are just a small part of a larger puzzle), the situation is quite different when we compare to the metropolis of developed countries. So if you have to visit the center of a city, which is most probably going to be crowded and jam packed, and parking lots are scarce during busy hours, it is rational not to take your own vehicle and use public transport instead.

So owning a car for one person can become expensive and a hassle. To come up with a solution, residents of a neighborhood in Toronto have started to share the ownership of the car, and according to the report, the trend is increasingly growing.

Also Read: Google Training Its Self Driving Cars To Drive More Like Humans

It is not like you can borrow a car from your next door neighbor for an evening. But you two will be joint partners in its ownership. The report talks about a young couple who felt there wasn’t any need for a full-time car ownership, and they bought a car with their neighbor and have been sharing the ownership for last three years. Together they bought a Mazda3 and although there were few hurdles, in the beginning, they have worked out a system that works for all of them.

It has also presented itself as a gap that auto manufacturers can exploit to increase their market share in one way or another. Mercedes Benz launched their Car2Go service which operates in various locations in Europe and North America. You don’t own a car exactly, but you take it from the current user and leave for the next in line. There is no central hub where all the cars are stored when they are not being used.

According to Navigant Research, a leading market research, and consulting team, there were around 2.3 million car-sharing memberships across the globe. And the number is expected to rise to as much as 12 million by 2020.

But joined ownership and sharing a ride for few hours/days is something entirely different. Also, not everyone can come up to agreed terms like the Mazda3 couple did. Besides, it is okay if you don’t feel any connection with your car and it is just a simple means of transportation to you. But if you consider yourself an enthusiast, I doubt you will even let anyone drive your car. Joint ownership is out of the question.

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  • Aamir Bashir

    I won’t be able to share my car as i’m too attached …. but i wonder how someone can joint ownership of a car if in case let suppose both owners need it dearly in the morning plus they have the same job timings and they have to go in different/opposite direction what wud they do then ,,,

  • PeeDroid MiNi L100

    They Won’t Buy A Car..
    They Will Buy CD70

  • Bitter Truth

    Mostly People keep cars at home for family use and use Bike for office use. If that’s the case it might become handy. Going to office in a car is a suicide in big city with traffic jams :p seriously it’s irritating to sit during a traffic jam

  • Guest

    49% and 51%, larger share holder governs.