Autonomous ridesharing could save families $4,100 a year
How Much Americans Could Save by Ridesharing Driverless
Cars Over Owning
July 3, 2018
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.
Esurance analyzed the cost of owning a self-driving car
versus ride-sharing in self-driving cars and found that if people are willing
to trade in car ownership for ride-sharing, they could save up to $4,100 a
year. (Source: Esurance)
Other research confirms that a 20 percent improvement in
efficiencies of the personal transportation system, would generate a five
percent increase in household incomes.
Saving time and money is appealing; however, whether it
makes sense will depend on where people live — cities, suburbs or rural areas—
and their willingness to embrace ridesharing over car ownership, the
researchers note.
By 2025, self-driving taxis could be commonplace. General
Motors Co. plans to start a pilot program this summer that will enable car
owners to rent out their vehicles when they aren’t using them. The car maker
has said it will start selling driverless vehicles next year.
Other ridesharing companies are testing driverless cars
in Arizona, California and in other states.
Once driverless ridesharing is widely accessible, the
Esurance researchers believe two-car households might be willing to go to just
one car and some urban one-car households might drop their cars entirely, which
could save families more money in transportation costs.
However, there’s still a general perception that people
don’t trust self-driving cars — and can’t imagine doing so in the future.
In a 2018 Esurance survey, 83 percent expressed low or no
interest in giving up control behind the wheel. Esurance found that there are
two primary factors motivating people to continue driving: a general
unwillingness to give up control and a fear of the unknown, especially among
different generations. Younger survey respondents (aged 18-34) were three times
more likely to embrace self-driving cars than adults aged 55 and over. And
parents were 60 percent more open to relinquishing driving control than
non-parents to gain the benefits of multi-tasking.
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