Despite only 400,000 of over one billion cars on the road today being electric, there is growing interest in electric cars - 40% of luxury car owners in the UK would consider buying one. But crucially, they would only do so if their driving range was improved.

India is the youngest luxury car market in the world, with its average buyer age at 35, compared to 43-45 globally. A growing trend of compact cars from Audi, Mercedes-Benz and BMW is driving younger customers to spend big on a flash set of wheels.

The desire to own and drive your own car used to be a life-defining characteristic for young Brits – but its importance is fading. And it’s the same case in other countries too, from the US and Germany to Japan and Australia. But why? And how is the car industry responding?

Between DriveNow, Blablacar and Uber, companies are already making it easier than ever not to own a car. With funding from the MAIF, a French insurance company, Koolicar is a start-up that's rethinking the car-renting process between individuals.