Consumers may buy fewer cars in areas served by Uber, Lyft: study

Reuters News
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Posted: Aug 10, 2017 9:47 AM

DETROIT (Reuters) - In areas served by Uber Technologies Inc, Lyft Inc and other ride services operate, consumers may buy fewer cars and take fewer trips, according to a new study released on Thursday.

The study, compiled by the University of Michigan Transportation Research Institute, Texas A&M Transportation Institute and Columbia University, focused on Austin, Texas, where on-demand services like Uber and Lyft pulled services due to a local ordnance.

The study found that 41 percent of 1,200 people surveyed said they used their own car to fill the void left by Uber and Lyft, and 9 percent purchased a vehicle for this purpose.

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(Reporting By Nick Carey; Editing by Bernadette Baum)