Summary of Cars of the Future

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For a generation of Americans, sitting behind the wheel of a car while driving into the sunset was the quintessential image of personal freedom. Millennials share a similar vision, but in their version, they are seated in the back of a cab, untethered to the burden of vehicle ownership. Economist Films examines this radical shift and presents an overview of the auto industry’s current state of play via several colorful vignettes from around the world that depict the challenges to the status quo. getAbstract recommends this rich illustration to auto industry personnel and to anyone interested in how new technologies can abruptly overhaul traditional business models.

About the Speaker

Economist Films, a unit of The Economist magazine, produces documentaries that investigate economic, social and political issues.

 

Summary

Disruption has gripped the auto industry: Smartphone apps now can connect drivers who want to monetize their vehicles with patrons who need rides. As a result, car ownership is falling in urban areas worldwide, and a preference for riding over driving is emerging. Such upheaval yields opportunities and challenges. For example, Ola, India’s largest ride-hailing service, receives one million ride requests per day. While Ola’s drivers embrace the trend, licensed taxi drivers believe Ola is undercutting taxi fares and stealing their business. Ola’s vision is “to build mobility for a ...


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