BMW and Daimler are combining for a joint venture funded by $1.1 billion to compete with Uber, Lyft and other ride-sharing firms
Lyft have completely disrupted the taxi business worldwide, car companies are grappling with how this trend, especially as it impacts younger drivers, and how it will impact the future of car sales. Daimler and BMW, like other carmakers, still make their money selling vehicles and financing them.
Younger consumers are increasingly choosing to forgo car ownership when they can, relying on car-sharing and car-hailing instead, especially in and around cities that have mass transit and alternative mobility options. Car companies that own the services or have substantial stakes in them can treat them like captive customers, supplying them with vehicles. This is not a new strategy.
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