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Online collaborative consumption models, such as Uber and Airbnb, have emerged as popular peer-to-peer platforms in the sharing economy. The recent introduction of ride-hailing apps for smartphones has generated a powerful medium for passengers to call cars effortlessly and flexible job opportunities for drivers. A central question surrounding the introduction of online collaborative consumption regards its impact on incumbent firms. For example, ride-hailing services could discourage private car ownership, potentially leading to a subsequent decline of new car sales. Our study investigates whether the adoption of a leading ride-hailing platform, Didi Chuxing, increases or decreases new car sales shortly after the platform’s entries across 51 cities in China. Our empirical results suggest that the initial entry of a dominant ride-hailing company like Didi Chuxing positively impacts new car sales in the short run …