Auto Industry Looks Beyond Ownership

Henry Ford's approach is dying. Ford's OK with that.

Why buy, when you can share?

Photographer: Adrian Moser/Bloomberg

Adam Jonas, a New York-based analyst who scrutinizes car companies for investment bank Morgan Stanley, has a chart that he says will "occupy the remainder of my professional life." The shift toward renting rather than owning expensive assets, combined with the advent of self-driving cars, will transform the auto industry, Jonas says. Here's his chart:

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