Owning your car is rational. Let me explain.
𝗥𝗮𝘁𝗶𝗼𝗻𝗮𝗹𝗶𝘁𝘆 𝗶𝘀𝗻’𝘁 𝗷𝘂𝘀𝘁 𝗮𝗯𝗼𝘂𝘁 𝗰𝗼𝘀𝘁; 𝗶𝘁’𝘀 𝗮𝗯𝗼𝘂𝘁 𝘃𝗮𝗹𝘂𝗲.
You own a car because you value it more than the sum of alternative mobility options (car rentals, ride-hailing, biking, public transport, etc.) required to meet your needs. It maximizes your utility, it is rational.
𝗞𝗲𝘆 𝗜𝗻𝘀𝗶𝗴𝗵𝘁 𝗳𝗿𝗼𝗺 𝗨𝗦 𝗠𝗲𝘁𝗿𝗼𝗽𝗼𝗹𝗲𝘀:
1️⃣Individuals value owning and using their car annually at $11,197, compared to the estimated average annual cost of $9,282
2️⃣58% of this value is due to ownership benefits such as security and flexibility, known as "option value."
3️⃣Other transportation options are valued under $5 per option.
𝗪𝗵𝗮𝘁 𝗱𝗼𝗲𝘀 𝘁𝗵𝗶𝘀 𝗺𝗲𝗮𝗻 𝗳𝗼𝗿 𝗠𝗼𝗯𝗶𝗹𝗶𝘁𝘆-𝗮𝘀-𝗮-𝗦𝗲𝗿𝘃𝗶𝗰𝗲 (𝗠𝗮𝗮𝗦)?
For MaaS to compete with private car ownership, the combined value of its offerings must exceed that of private cars.
𝗠𝘆 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵:
As part of my Master's Thesis, I’m investigating how the value gap between private car ownership and alternative mobility options plays out in the Munich metropolitan region.
Can bundled mobility services in Munich compete with private car ownership for current and future generations?
👉 Reflect on your mobility choices and consider how they might evolve through the survey in the comments!
#Mobility #Transportation #UrbanPlanning #CarOwnership #SustainableTransport #FutureOfMobility
Source: Moody, J., Farr, E., Papagelis, M. et al. The value of car ownership and use in the United States. Nat Sustain 4, 769–774 (2021)
Credits: Markus Spiske
President and Chief Executive Officer at Enterprise Mobility
2moIt was great to see Enterprise Mobility lighting up the Vegas skyline! Proud to say #IWorkForEM.