According to Forbes' Stephen McBride, self-driving cars are here right now and will be an existential threat to the car industry. He cites Waymo as the prime example, a company that gets little to no attention due to being a subsidiary of Alphabet, yet clocking one million self-driving miles a month.
Why pay for car loans, insurance, registration, inspections, repairs, parking, oil, and gas when you can summon a safe, inexpensive driverless car to pick you up anytime you want?
Approximately 63% of Americans live in urban areas. I think it’s safe to assume at least half the folks who own cars in cities today will ditch them in the coming years.
Did you know that 2017 marked the first year that auto sales fell since the financial crisis? It’s an early sign of the unfolding disruption that will eventually shatter the auto industry.
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