Interestingly enough, the appearance of an Apple car on the market could help Musk and Tesla. If it were electric powered, the Apple car would need batteries; those batteries would presumably be lithium-ion units manufactured at Tesla’s massive Gigafactory in Nevada.
That’s the bad news: one of the fastest and best looking vehicles ever built is about to pass into automotive history. Now for the good news: Bugatti is working on a next generation supercar called Chiron, named after a centaur character in Greek mythology.
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
Interestingly enough, owning a car is still cheaper than ride sharing in the 50 largest American cities, Nerd Wallet discovered. Relying on Uber, Lyft, or Side Car is still more expensive than owning your vehicle. The reason for that is the base prices Uber charges.
It looks as if Uber might not be the cash cow that some people think it is. Instead, it is a very expensive business built on a lot of debt that could implode quickly. My prediction for Uber is that it will borrow a fortune from investment bankers then, when that ATM starts running empty, it will issue an IPO and a lot of worthless stock.
The public likes the idea of vehicles that drive themselves, The Detroit Free Press reported. The newspaper cited a Boston Consulting Group poll that found 55% of auto buyers would be likely to purchase a partially autonomous vehicle, such as some of Mercedes’ current S class.
If Uber has to start paying its drivers like employees, it’ll have to shut down in the United States. Uber’s competitors, such as Lyft and Sidecar, would be driven out of business. It goes without saying that these suits could be a major headache for other internet and app companies that rely upon independent contractors such as Elance-Odesk.
All this is what technology journalists call a game changer because it represents a fundamental change in lifestyles. New York Times writer Farhad Manjoo notes that Uber gives people less reason to own a car.