Find Out Why Consumers Are Opting For 2-Wheeler Rental & Avoiding New Purchases
This is a Guest Post By Anand Ayyadurai, Co-founder and CEO, VOGO
The mobility market has witnessed a fundamental shift in customer needs when it comes to safe transportation during the pandemic. Given that social distancing has become a must, people are wary of opting for modes of transportation which require them to compromise on their safety & hygiene
As cities acclimatize to the ‘new normal’, people are increasingly shunning crowded modes of transport and gravitating towards safe, affordable, personalized mobility solutions. This has shifted the spotlight to ride hailing, growth in last-mile delivery and the rental businesses.
The economic implications during the pandemic have also resulted in contraction in GDP by 23.1% in the first quarter of 2020-21, leading to a
reduction in budgets and spending capacity amongst the mass.
Issues With Owning A Vehicle
People are tending to avoid hefty loans, maintenance hassles and insurance registrations amongst other issues when it comes to purchasing a
vehicle. Given only 18% of the population owns a personalized form of transportation & the overall cost of owning a vehicle, this shift will continue gaining momentum in the coming years.
Changing market dynamics has thus led to mobility players coming up with innovative ways to capture user segments by venturing into rental models within the industry. Services like home-delivery of rental scooters & flexible rental plans have created a sense of ownership & convenience minus the hassles of actually owning a vehicle.
Vehicle Rental Is The New Trend
Technological advancements in the two-wheeler rental space have also propelled the trend further.
The integration of IoT has helped develop a human-machine interface that allows minimum human intervention to start & stop the vehicle via bluetooth, ensuring lesser contact points for the consumer during the ride.
Initiatives like one-click ride, interconnectivity amongst devices & leveraging data through IoT regarding locations, speed, etc has redefined user experience through mobility applications. Integration of AI & ML will further help alert a user about scooter availability & suggest ride options based on his commute needs.
The pandemic has also showcased a decrease in carbon emissions. A study in the British journal ‘Nature Climate’ says that emissions decreased by 17%.
Self-ride two-wheeler players not only provide safer mobility solutions but are also moving towards Electric Vehicle integration within their fleet. Sustainable, safe, self-ride commute options are surely in vogue and will continue to be so in the Indian transport system during times to come.