People wouldn’t, however, just rely on stats and give up
car ownership. Many people will still prefer owning a personal car owing such
to convenience, flexibility, the love of driving or simply because it’s a
status symbol as pointed by Uber in the same report. But as industries
surrounding private car ownership slowly collapse, it will be more and more
difficult to own and maintain a car. Eventually ‘on-demand mobility’
will take over private car ownership. Not long ago, horses used to be a
similar symbol of status as luxury cars now. But we don’t see horses on the
road these days, do we?
Supporting industries such as the automobile insurance industry,
the after-sales market, the parking industry and automobile finance industry
will take a serious hit. Car rental companies will be a thing of the
past. The effects of autonomous vehicles will extend beyond consumer
transport.
Vehicles used in the construction industry such as earth
movers and unloaders, long-distance trucking vehicles and basically everything
with a set of wheels will become automated and would not need a driver.
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