2016 marked the seventh consecutive year for sales growth for domestic automakers, with Ford and Honda USA acquiring record sales in the form of 2.6 million and 1.6 million vehicles sold, respectively. However, auto industry and economic think tank experts predict that this sustained boon of profits is cresting imminently on the cusp of a dramatic bubble burst now known as ‘Peak Car’.
Coined by predictors such as Bank of America and Morgan Stanley, the term ‘Peak Car’ refers to the point in the time when the mass manufacture of vehicles eventually outpacing consumer demand, combined with the exponential congestion of industrial areas to create an economic “death spiral” scenario of profit loss and untenable transport conditions.
The most popularly-touted solution to the problem of ‘Peak Car’ is the adoption of a mass transportation system of autonomous personal vehicles, designed by the likes of Google and Tesla, coordinated through the built-in infrastructure of ride-sharing services.
But how would such a radical paradigm shift in mass transportation transform not only the American concept of ownership, but the future of auto insurance?
To answer this, National Transport has published an exhaustive study of the ‘Peak Car’ phenomenon, combining the history of mass transit commuting, 20th century industrialization, and autonomous automotive engineering to unpack the what, where, and why behind this transformative period in automotive history.
For more information on our findings, check out the study in full here: http://www.nationaltransportllc.com/node/4386