Some 453,461 people are planning to sell their cars this year to save money, and will rent vehicles instead when needed, according to new research from Ebbon Intelligence, a company that uses artificial intelligence to help businesses manage vehicle fleets more effectively.
Ebon said a further 403,077 intend to sell their cars to help reduce the number of vehicles on the road to help protect the environment, and again will rent when they need to.
What’s more, some 202,538 people said they intend to sell their cars and rent so that they can drive better-quality vehicles.
In total, Ebbon’s research has revealed that around 9.47 million adults in the UK are planning to rent cars over the next 12 months, with 81% saying they will do so when on holiday. This was the main reason given for renting a car.
Ebbon Intelligence is a recently launched joint venture between Zegami, an Oxford-based data visualisation platform, and automotive technology solutions provider Ebbon Group.
Ebbon Intelligence is developing smart repair and damage identification systems designed to enable car hire companies to accurately assess depth and detail of damage to vehicles during rentals.
Robert Pilkington, joint CEO at Ebbon Group, said: “One of the biggest challenges facing rental and mobility providers is the management of damage in a fair way for the consumer and themselves.
“Our AI based technology work is focussed on making this easier for both parties in a society where rentorship is on the increase.”