Economist GMAT Reading Comprehension Challenge #24
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Article: Why retired people could be ideal customers for self-driving cars
New technologies are normally first adopted by the young but according to Voyage, a silicon valley startup, the elderly will be the early adopters of self-driving cars.
Voyage claims that AVS are ideally suited for retirement towns because the roads and traffic patterns in retirements communities are simpler so easier for self-driving cars to navigate and old people want to move around but may not want the hassle of owning there own car or may have lost confidence in their ability to drive.
With retirement towns there is a clear road to a large market.
There are other reasons…
There are other reasons why retirement towns make sense for AVS: Warm weather, private roads, and lack of rush hour because everyone is retired.
Voyage is now…
Voyage is now testing in two communities and has extended a .5% ownership stake to the owners of each community in order to align incentives.
Replacing car ownership for the aged may be easier than providing ride-sharing for young urbanites.
According to Voyage, old people in retirement towns will be the first major users of EVS.
To discuss a pilot autonomous vehicle program in retirement towns.