Three Businesses Self-Driving/Electric Cars Will Eliminate
Whenever new technology enters our lives, businesses that were previously flourishing can die rather quickly. Remember pay phones? Obviously, cell phones came along and put an end to that tech trend. There are countless trends, from encyclopedia sets to newspaper classified ads, that are now as extinct as the dodo bird-- all because of the internet. So, while Electric Vehicle (EV) and Self-Driving Vehicle (SDV) technologies will change our lives and daily behavior, they will also knock out many of our automotive-related business models as a result.
There are a lot of companies out there right now that are getting ready for the coming storm, but many auto-related companies are going to be surprised when they look up and suddenly realize that their businesses are becoming obsolete.
So, here at Gabe's Collision Service, we have come up with a list of three car-related businesses that may soon be something from the distant past as EV and SDV technologies take over Buffalo, NY and even the entire world.
Auto Part Stores are In Big Trouble
Retailers such as Advanced Auto Parts, O'Reilly's, Pep Boys, Autozone and many others currently market aftermarket car parts to do-it-youselfers and backyard mechanics. The engines in EVs are much less complicated than their gasoline counterparts, which means that fewer replacement parts will be needed over the lifetime of the vehicle. This will mean lower sales for retail stores, especially with the Internet already stealing much of their thunder. While EVs will significantly reduce the number of purchases per buyer, SDVs will surely reduce car ownership altogether, which means that auto part stores are in jeopardy right now.
Say Goodbye to Gas Stations & Quickie Marts
The gasoline industry is very tightly monitored and regulated through a network of gas stations owned by a small group of mega-sized corporations, but the electrical grid is literally everywhere. EV fueling can happen just about anywhere there is an electrical outlet. Any location where cars are parked for more than an hour will be perfect locations for new EV refueling stations. Gas stations and the convenience stores attached to them will be gone before you can order your next Slurpee!
Car Washes Will Dry Up and Drop Off
EVs and SDVs will still need to be washed, that's a given. If self-driving cars means fewer car owners, that also equals fewer car wash customers. Instead of today's general mom-and-pop car washes, these businesses will be much more commercial in nature and most likely located in industrial parks.
Other companies that might struggle when EVs and SDVs hit the market are new and used car dealerships, accessory companies, fleet management agencies and even companies that make street signs. We're not doomsday theorists-- we just are looking into the future. Any of these businesses can adapt to these new and exciting changes-- and all of us at Gabe's Collision Service are ready and willing to help!
Sources: USA Today, Business Times and Wall Street Journal