Carmageddon, a term coined to describe the impending doom of the automotive industry, is on the horizon due to three key factors: electric vehicles, self-driving cars, and ride-sharing. Electric vehicles are becoming increasingly popular, with China leading the way in production. By 2025, experts predict that over half of all new cars will be electric. This shift threatens traditional car manufacturers, who are struggling to compete with electric vehicle companies.
Self-driving cars are another game-changer. By eliminating the need for drivers, these vehicles could drastically reduce the number of cars on the road. This is particularly significant for the taxi and trucking industries, which could face significant job losses.
Finally, the rise of ride-sharing apps like Uber and Lyft is altering the way people use cars. Instead of owning a vehicle, many people are opting to use these services for their transportation needs. This trend could lead to a decrease in car ownership, further impacting the automotive industry.
These three factors combined could lead to Carmageddon, a significant decline in the traditional automotive industry. The industry must adapt to these changes or risk becoming obsolete.
Go to source article: https://medium.com/future-crunch/carmageddon-is-coming-899c0f05a2a