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Dump your Car and hire a Cab

In an article written in Economic times, it may be new trends in big Indian cities to use hired cab for daily commute rather then buying own car. Even people are selling their car and joining the trend.


Lets see if you have a car, you may use it for just 4 hours a day on average, so your car do nothing for rest 20 hours, It is a serious waste of money. Your car depreciates day by day, on average 10% per year. Think about this option and utilize your money somewhere you get more return like yourself. Learn more, have more degree, get new skill, and have all the driving time at your disposal to do something new.

Changing trends: Why it make sense to sell your car and hire a cab from Uber or Ola

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Parking Charges in an Apartment

The cost of owning a parking in an apartment in big cities is more than car price itself, for example Aparna builders in Hyderabad is charging 3 lakhs for a covered car parking, which comes to around 5% to 10 % of the total apartment cost depending upon your project builder.

Using Uber and Selling or not owning a car

Pros

• No need to maintain a Car
• No need to keep a driver for your family member
• No maintenance, fuel, parking, security charge. 
• You will get different car most of the time.
• Optimization of car, road traffic and money.

Cons

• You can't personalize your Uber. (Uber is coming with Spotify in some cities to play your own music.)
• Sometimes it may be difficult to get a car when you desperately need, in some areas or peak hours.
• Sometimes you may get bad drivers.
• Sometime you may get irritated by network or car itself.

You can think of many more pros and cons and decide by yourself.

Win win for customer and driver

Some auto industry veterans reckon the attraction of car ownership won't dim much because a car is more than a utilitarian asset.

RC Bhargava, chairman of Maruti Suzuki, says "if people only used their car for commuting purposes, then there would be only small compact cars all around. But that is not the case, cars are considered as extension of one's taste, personality and beyond".

Other auto industry insiders say modern cab services may kill the need for the second or the third car, but not the first.

Sumit Sawhney, country CEO and MD of Renault India, says cab services "will have no major impact on the first car purchase in the family, as India is yet to see accelerated motorisation".

Gaurav Vangaal, senior analyst, forecasting, IHS Automotive, says India is too complex a country for one trend to prevail. "India is not a country, it is a continent in itself with different purchase behaviours.

The metropolitan disruption looks minimal when we compare it with the whole country," Vangaal argued. Developing this theme, Pareek of Tata Motors says growing demand for modern cab services can create new demands for auto companies.

One thing is sure, auto industry will keep a close watch on the car vs cab battle. And this story again show why: Two corporate hotshots finished a meeting at a 5-star hotel in Mumbai and got ready to leave. One summoned a cab using the service's app and the other called his driver. The cab arrived first.


Read a detailed post on ET here

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