Insurance companies fretting losing money on driverless cars
A new report by McKinsey & Co. said mass adoption of self-driving cars will begin in about 15 years, and will have massive ripple effects on the industry, the Journal said. That's similar to findings reported last year by the RAND Corporation predicted autonomous vehicles could cause an increase in liability to automakers and a decrease from drivers, and the WSJ came to a similar conclusion. Driverless cars are also promised to have fewer accidents, which could mean fewer payouts for insurance companies. Although safer cars might not help repair shops and parts suppliers, because the change could mean less demand for repairs.
While all of these concerns are at least years away from becoming a serious issue, it's intriguing to see corporations already starting to consider the financial implications. And kind of bizarre to think there are people worrying that they won't make enough money because there will be fewer dangerous car accidents.
- Biggest automotive sales disappointments
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models