This article first appeared online at TheNewAmerican.com on Thursday, May 21, 2015:
Brian Johnson, in his “Disruptive Mobility” report issued by Barclays Bank on Tuesday, sees that a future with driverless cars will mean far fewer cars on the road, a much smaller GM and Ford, and consumer travel costs cut by two-thirds. A generation from now there will be just 100 million cars on American roads (compared to 250 million today), and new car sales will fall below levels touched at the bottom of the Great Recession: less than 10 million a year.
This means that, unless they adapt and adopt new strategies, and perhaps a new business model, General Motors and Ford will likely be vastly smaller enterprises than they are today. He predicts that