The idea that car ownership is bound to die is not a new one. The theory goes that as more people move into crowded cities, fewer will see owning a car as a necessity.
Ride-hailing services like Uber and Lyft have given some traction to that idea, as millennials increasingly prefer to whip out an app when they need a ride rather that commit to the expenses associated with owning a car.
There's already evidence of that trend. For example, a University of Michigan study published in January found the percentage of young people with a driver's license to be in decline.
The adoption of autonomous tech adds another layer to the "death of car ownership" theory. A network of on-demand, self-driving cars will drive the cost of ride-hailing services even lower, meaning owning a car will become even less alluring with time.
Where the theory gets sticky is when we talk about when this will happen and to what extent. (...)
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