Report Finds 51% of Malaysian Residents Likely to Give Up on Car Ownership
A report titled The Road Ahead: The Future of Mobility by Avis Budget Group revealed that 97% if residents in Malaysia surveyed think that owning a car is important and 67% still see the car as the ideal mode of transport.
However, 51% respondents said that they would consider giving up car ownership and rely on long-term car rental if it was convenient and easy for them.
The report examines the way in which the mobility landscape is changing around the world, how it is likely to look in the future and, how people in different countries view these changes.
In the research conducted across 16 countries in Europe and Asia, including Malaysia, respondents revealed that over the next decade, consumers are likely to move to an access-driven and on-demand model as their favourite mode of transportation.
The single biggest factor leading the transport revolution is technology, specifically 5G networks. Most recently, the Malaysia Government has started a nationwide demonstration of 5G projects that indicated it was on track to becoming one of the first Asian countries to launch the technology. Once implemented, the large amounts of data provided by the 5G networks will enable mobility companies to collect and mine data for insight, which can be used to improve travel experiences.
To this point, Avis Budget Group’s research revealed that 73% of respondents feel comfortable having their data accessed and shared for the implementation of smart infrastructure and better travel experience. 81% of respondents also expect driving to become easier in the coming years.
Keith Rankin, President, International, Avis Budget Group, said: “Driven by technology advancements and the influence of services like Amazon, Netflix and Spotify, people today want to consume and access products and services at the click of a button. The expectation for an on-demand service has impacted the mobility industry and resulted in the evolution we’re seeing today – from being able to book a taxi instantly to hiring a car for a week-long holiday, all from your smartphone. However, our report reveals that we are now seeing a rise in this demand for instant access and flexibility, resulting in changing behaviours towards car ownership.”
“Changing needs and the expansion of the sharing economy offer both challenges and opportunities for the mobility industry. Our research has shown that whilst consumers are expectant of connected, integrated and on-demand services, they still want convenience at a reasonable price.
“It’s imperative that different mobility players work together to ensure the future needs of consumers are met. We have demonstrated the success of collaboration, as shown with our fleet management as a service (FMaaS) partnerships with Via and Lyft, and our agreements with Ford and Continental in providing connected cars. Our partnerships demonstrate well how the sector can work together to provide the on-demand and connected services that customers want. These can range from a technology giant delivering 5G, or local governments working with the private sector for improved, urban electric vehicle (EV) access for residents.”
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