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.
Jimerson was able to use a combination of chutzpah, romance, and audacity to get a number of women to file fake car insurance claims on his behalf. He was even able to trick the ladies into claiming ownership of the cars he was driving.
One has to wonder how low oil prices and gasoline prices can go. What will happen if gasoline falls to $1.50 a gallon or lower? That could boost the economy, but it will also hurt a lot of people, including those with oil company stock, oil industry workers, and Tesla stock holders. Expect to see a lot of economic chaos because of cheap gas.
Uber, it seems, has both a credibility problem and a very bad reputation that seems to be getting worse. The company is also up to its head in very sleazy politics. Uber CEO Travis Kalanick has gone out of his way to say how much he “loves Obamacare.”
This is really game changing technology folks and one that’s going to find a huge market out there. Outside of North America, it could be really popular in developing countries like Pakistan where blackouts are a daily fact of life.