Car giants see road to riches in sharing

Maya Jackson, a Lyft driver from Sacramento, holds a Lyft Glowstache during a photo opportunity in San Francisco, California February 3, 2016. REUTERS/Stephen Lam

PARIS: Auto giants are racing to invest in car- and ride-sharing services, lured by the prospect of fat profits yet to be tapped from a billion cars on the world’s roads. 

A typical car spends 95% of its life at a standstill, industry analysts say, making it a vastly under-utilised, depreciating asset. There may be big money waiting, therefore, for the business that can get the car moving again.