From FT Alphaville:
More on our rental serf future, from Citi
This is what the car journey of the future will look like, according to Citi’s latest Global Perspectives & Solutions report.This post from Izabella follows on her piece yesterday which we linked as "Serfing USA: The Rental Economy"
And in case there was any doubt that the path to future profitability lies in the general population never really owning anything but rather having to rent everything or pay a subscription to an intermediary for it, here are some choice extracts from Citi about the real potential of autonomous cars.
What Also Changes? New business models for consumers such as subscription services for autonomous vehicle networks. The aftermarket automobile industry could also be impacted if vehicles increasingly become managed by fleets versus individual consumers. Additionally, automakers could try to leverage big data in order to grab a greater share of aftermarket revenue throughout the life of the car. Changing tires no longer becomes a hassle if the car can drive itself to a dealer. New auto financing methods will likely also develop.Extract two:
There is still something gratifying about owning an asset, and there is clear value in having the instant freedom of mobility that comes with having your own car. But who needs to own all of it, or any of it? Driverless cars could unlock car timeshare models....MORE
I highlighted the word in blue because I had a friend who inherited a timeshare he didn't know his parents owned. He tried to donate it to a charity who refused the donation explaining that the asset-use model was very expensive to the putative 'owner'.
And, as promised, from Atlas Obscura:
Of all the national panics, this might be the most bizarre.