Game changer: How to think about the impact of autonomous vehicles on a real estate investment strategy
The buzz around autonomous vehicles, which drive without the need for human interaction, seems to be everywhere, with major automakers and technology companies joining forces to revolutionise the transportation industry. They promise to change the way we travel, while saving lives, conserving resources and freeing time for more productive uses along the way.
Autonomous vehicles are expected to save lives by reducing accidents, 94 percent of which are attributable to human error and cause more than 1 million deaths worldwide per year. By removing human error from driving, autonomous vehicles are also anticipated to travel faster and more closely together, increasing existing road capacity. They will also save fuel, reducing costs and greenhouse-gas emissions. In the United States alone, passenger cars use 143 billion gallons of gasoline per year, at a cost of more than US$500 million, and autonomous vehicles could increase fuel efficiency by more than 20 percent. In addition,