August 10, 2017 / 1:50 PM / 2 months ago

Consumers may buy fewer cars in areas served by Uber, Lyft: study

DETROIT (Reuters) - In areas served by Uber Technologies Inc, Lyft Inc and other ride services operate, consumers may buy fewer cars and take fewer trips, according to a new study released on Thursday.

FILE PHOTO: The logo of Uber is seen on an iPad, during a news conference to announce Uber resumes ride-hailing service, in Taipei, Taiwan April 13, 2017. REUTERS/Tyrone Siu/File Photo

The study, compiled by the University of Michigan Transportation Research Institute, Texas A&M Transportation Institute and Columbia University, focused on Austin, Texas, where on-demand services like Uber and Lyft pulled services due to a local ordnance.

The study found that 41 percent of 1,200 people surveyed said they used their own car to fill the void left by Uber and Lyft, and 9 percent purchased a vehicle for this purpose.

Reporting By Nick Carey; Editing by Bernadette Baum

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