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Last Updated : Oct 23, 2019 12:52 PM IST | Source: Moneycontrol.com

Car ownership is a 'trap': Uber CEO Dara Khosrowshahi

"For the newer generation, the dream is not to own a car but the freedom to have any kind of service on demand," Khosrowshahi said

Car ownership is a trap that can prevent innovation, Uber chief executive Dara Khosrowshahi said.

India does not need to stick to the current model and can be an innovator for developing countries, Khoswroshahi added.

In developed countries, high car ownership is "a trap that can sometimes prevent innovation because you have a central infrastructure that is designed for the last 10 years versus infrastructure that is designed for the next 10-20 years," Khosrowshahi said, as quoted by Mint.

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"For the newer generation, the dream is not to own a car but the freedom to have any kind of service on demand," he added.

In September, Finance Minister Nirmala Sitharaman cited millennials' preference for ride-sharing services Ola and Uber as one of the reasons for the slowdown in cars sales.

Uber's growth over the next decade will be defined by markets like India, Africa, the Middle East.

Khosrowshahi also called India as one of its top markets, saying that the "profitability characteristics" were improving.

Khosrowshahi was speaking during the launch of the company's public transportation service in New Delhi.

The company tied up with the Delhi Metro Rail Corporation (DMRC) to launch Uber Transit, a commuter service for last-mile connectivity to Metro stations.

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First Published on Oct 23, 2019 12:52 pm
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