J.D. Power: Ride-Hailing Services -- The Price Better Be Right

"With the rapid rise of ride-hailing via companies like Uber and Lyft, does it make sense for a new-vehicle shopper to forego their purchase and simply transition exclusively to becoming a ride-hailing customer to meet their transportation needs?"
-- Tim Dunne, J.D. Power, Director, Analytical Center of Excellence
By: J.D. Power
 
Tim Dunne is a Director for the Analytical Center of Excellence at J.D. Power.
Tim Dunne is a Director for the Analytical Center of Excellence at J.D. Power.
COSTA MESA, Calif. - June 27, 2018 - PRLog -- When buying a new car, few people think about the "cost-per-mile" to own and operate the vehicle, but the American Automobile Association (AAA) publishes a guidebook every year that examines just that called "Your Driving Costs."

The publication helps vehicle owners understand the total estimated cost of owning and operating their vehicle each year and breaks that cost down to an approximate cost-per-mile driven. It is a useful resource for anyone looking to purchase a new vehicle. With the rapid rise of ride-hailing via companies like Uber and Lyft, does it make sense for a new-vehicle shopper to forego their purchase and simply transition exclusively to becoming a ride-hailing customer to meet their transportation needs?

Using AAA's guidebook as a baseline, additional research helped determine an answer. Truth be told, making the comparison wasn't easy; it required some effort.

According to the Department of Transportation, the average American vehicle owner drives about 13,474 miles per year, or about 1,122 miles per month. According to the EPA, the mean fuel economy of a new vehicle in America is 24.8 miles per gallon, which means the average vehicle consumes about 45.2 gallons of fuel per month. At the current national mean price of $2.58 per gallon (according to AAA), the average new vehicle owner spends about $116 per month on fuel.

To see where the analysis of J.D. Power's Tim Dunne landed, visit:

http://www.jdpower.com/resource/mobility-disruptors-ride-...


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