Car-sharing services will see fast growth in China in coming years, and the fleets of such service providers are expected to reach a collective 170,000 cars by 2020, according to a report by Strategy&, a subsidiary of PricewaterhouseCoopers (PwC). The figure represents more than 50% annual growth from about 30,000 cars in early 2016. A Strategy& survey showed that 75% of users would like to use more of the service while 77% of those who have not used the service yet would like to give it a try. Car-sharing services can help drivers who have failed to obtain a license plate rent a car. 310 million people in China hold a driving license, but the number of cars in the country is around 194 million. “In a sense, all those people who don’t have a car are potential customers of car-sharing services,” said Bill Peng, Partner with Strategy& and co-author of the report. Sharing a car is also more economical than owning one if one drives less than 5,600 km a year. Strategy& said restrictions imposed on ride-sharing platforms including Didi Chuxing in major cities like Beijing and Shanghai, and the government’s advocacy of green transport, will also boost car-sharing services. It further said 95% of the cars shared now are new energy vehicles, and 77% of them are operated by automaker-backed car ride providers, the China Daily reports. Despite the bullish prospects, almost all car ride providers’ books remain in the red, with each car losing CNY50 to CNY120 a day, according to Strategy&.