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How Much Americans Could Save by Ridesharing Driverless Cars Over Owning
An anonymous reader shares a study: Self-driving cars promise safer roads, less traffic and increased mobility. Some autonomous vehicle proponents also maintain they will save time and money. But will they really save Americans time and money? And even if they do, are Americans ready to give up driving? Online insurer Esurance surveyed consumers, analyzed trends, and spoke to experts to find out. "Like with most new technology, we'll see consumer perceptions evolve and adoption accelerate as the promised benefits of self-driving cars are realized," said Haden Kirkpatrick, head of strategy and innovation at Esurance.
The reality is that the first fully autonomous cars will be very pricey and beyond the reach of most Americans. Manufacturers expect the early buyers will be businesses and the very wealthy. One developer says prices won't start coming down enough for most families and individuals to buy them until 2025 or beyond. Until the price of ownership of self-driving vehicles comes down, most people will experience driverless vehicles through ridesharing, according to researchers. According to Esurance research, in the best-case scenario, a family that gives up its car in favor of driverless ridesharing could save $4,100 in annual transportation costs. Other research confirms that a 20 percent improvement in efficiencies of the personal transportation system, would generate a five percent increase in household incomes.
The reality is that the first fully autonomous cars will be very pricey and beyond the reach of most Americans. Manufacturers expect the early buyers will be businesses and the very wealthy. One developer says prices won't start coming down enough for most families and individuals to buy them until 2025 or beyond. Until the price of ownership of self-driving vehicles comes down, most people will experience driverless vehicles through ridesharing, according to researchers. According to Esurance research, in the best-case scenario, a family that gives up its car in favor of driverless ridesharing could save $4,100 in annual transportation costs. Other research confirms that a 20 percent improvement in efficiencies of the personal transportation system, would generate a five percent increase in household incomes.
How Much Americans Could Save by Taking Public Transit
FTFY - If you live in city with a robust transit system, you can live without owning a car.
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That's great when everything is going smoothly. What about when a hurricane comes and blows the town down? Ridesharing options will vanish, and no I don't want to be waiting for a bus out from a city eager to decimate its indigent population. I'll stick to having my own vehicle TYVM.
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You've got the money part covered but notice the headline includes saving time. This is the real comedy; waiting around for a ride share is supposed to save time somehow?
I only need a car once or twice a year, so I just rent one. Seems pointless to own a car.
Well, for you the calculation is quite simple. For others, it's not so simple.
Exactly. The value of owning a car varies tremendously depending on where you live and what you do, and the value of owning a self-driving car will vary even more.
Having a car that can drive by itself will make it a lot more valuable in some locations. I would really find it valuable to have a car that can drop me off and then go park itself, and then come pick me up when I need it again.
So I'm not at all sure that people will buy fewer cars if the cars are autonomous. I'll say that the cars will be more valuable, at least to people who travel a lot to places where parking is hard to find, and hence a new segment of people who previous didn't want to own a car will now want one.
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Exactly. More cars driving around with nobody in them. Also, people may not try as hard to avoid rush hour if they can sit and browse the internet or watch a movie.
Why does the cost of riding in a ride-share car go down over 25% between 2025 and 2030?
Why is the cost/mile to own so much higher than the cost/mile to hail? Don't the share companies need to make a profit?
Based on the IRS deduction the cost to operate a vehicle in 2018 is $.545/mile. This chart says by 2030 a rideshare company will be charging $.25/mile, so their expenses must be well below that
None of this makes sense to me.