The situation is particularly bad because drivers say that they cannot afford commercial livery insurance, which is required for taxis and limos, under Uber’s current rates. Such coverage costs three to 10 times as much as regular car insurance. It’s available to Uber Black Drivers but not to most Uber drivers.
Obviously some better means of providing real insurance for ridesharing drivers needs to be found. If not, this industry is doomed from the beginning. Peers needs to work harder and find a better policy. Although, they may have little choice because major insurers are probably waiting to see how the legal battles around Uber play out before jumping into the business.
The reason for the decline is that there are more used cars on the lots. There were around 9.26 million used cars for sale in June and around 9.77 million used vehicles for sale in November. Increasing supply, as those who understand economics know, drives down prices
Audi’s move is a sure sign that the auto industry thinks Tesla is a serious threat to established luxury carmakers. It looks as if Audi is positioning itself to be the go-to company for hybrids and zero emission vehicles. This definitely put pressure on Mercedes to ramp up production of its fuel-cell powered vehicles and Toyota to start building a fuel-cell powered Lexus.