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Such innovations and technological improvements have enabled easyCar to "double bookings year-on-year", says Mr Laughton. Other P2P car-sharing firms seem to be enjoying similar rates of growth, as younger people in particular embrace the concept of "mobility as a service" and eschew ownership. So what does this mean for car manufacturers' traditional business models ? "I would say 2016 definitely was the year the major auto manufacturers woke

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up to the shared mobility space," says Mr Stocker. Image copyright Croove Image caption Mercedes' P2P car-sharing service Croove lets private owners rent out their cars For example, Mercedes-Benz recently launched a car-sharing app called Croove. In September, Ford bought Chariot, a San Francisco-based crowd-sourced shuttle service, and is even investing in a bike-sharing start-up called Motivate. Manufacturers clearly understand that personal car ownership is becoming old hat. General Motors tried to buy Lyft this summer, but was rebuffed, despite both companies joining forces to develop driverless taxis. Public transport threat? Car sharing may worry public authorities less than house sharing.

Without the benefit of the weak pound the increase was 30pc. Asos said it had reinvested much of the boost it gained from foreign exchange movements into price cuts, and that as a result it now expected full-year sales growth of between 25pc and 30pc. It previously forecast 20pc to 25pc. Nick Beighton, Asos's chief executive, said the faster growth required higher investment in infrastructure to cope. The company will now spend up to 170m this year, against thepreviously planned maximum of 140m. Mr Beighton said that among otherprojects, Asos will invest in a new warehouse in the United States with up to 10 times more capacity than its current facilities. Though it accounts for less than a tenth of revenues, the US operation increased sales by two thirds on last year. Overall growth in international markets outpaced Asos'progress at home. International retail sales of 361.7m were up 52pc on the same period a year earlier, and 41pc on a constant currency basis. Mr Beighton said the "standout performance" was helped by investments in improving delivery. InRussia, for instance, Asos'standard delivery time has been cut from a month to a week.

For the original version including any supplementary images or video, visit http://www.telegraph.co.uk/business/2017/01/12/asos-accelerates-international-investment-weak-pound-boosts/

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