How To Get Around The Peak Car Conundrum

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How To Get Around The Peak Car Conundrum

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Learn how to get around the peak car conundrum http://3bl.me/dk3vpn via @FastCoExist @sustainableSAP #technology #innovation

Summary

We have tons of cars--and tons of congestion. But new breakthroughs in connecting cars to the cloud (and eliminating the need for car ownership) show what a better future for cars might look like.

 

Tuesday, May 14, 2013 - 5:00pm

CAMPAIGN: TwoGo By SAP®: New Ride-Sharing App

CONTENT: Blog

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By all accounts, the global automotive industry is on a run. Sales are surging globally. Advances in hybrids, electric vehicles, and even conventional petrol engines are delivering eye-popping mileage gains.

Yet dig a little deeper into sales patterns and it turns out automakers face a worrisome trend. Data suggest that many wealthy economies have hit “peak car,” a point of market saturation characterized by an unprecedented deceleration in the growth of car ownership, total miles driven, and annual sales.

In the United States--the cradle of the global automotive industry--the number of miles driven per vehicle has leveled off over the past decade, after a century of upward growth. In Europe and Japan, the story is similar: the distance each vehicle travels has been declining since around 1990. Even for newcomers Brazil, China and India--the world’s fastest growing auto markets--romance with the car may sour quickly as urban jams become the new normal.

The factors behind the peak car conundrum are at once familiar and a little surprising. The first--congestion--is a visceral force, familiar to any driver. The second factor--the web--may be less obvious, but poses a potent drag on growth of new drivers.

Click here to read more about SAP is helping to get around the peak car condundrum on Fast Company's Co.Exist

*This article originally appeared on Fast Company's Co.Exist Blog

Keywords: Innovation & Technology | Automotive | Hybrid Vehicles | SAP | cloud | electric vehicles

CAMPAIGN: TwoGo By SAP®: New Ride-Sharing App

CONTENT: Blog

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