Driverless Cars Projected to Add 5% to European GDP by 2050

Driverless cars are on course to generate €17 trillion for the European economy by 2050, according to new research.

New independent economic analysis shows that autonomous vehicles will start adding 0.15 percent to Europe’s annual growth rate in the decades to come.

As a result, the European gross domestic product [GDP] will, cumulatively, be over five per cent higher in the year 2050, by which time autonomous vehicles will have contributed a total of €17 trillion to GDP.

Fully ‘autonomous vehicles’ are predicted to be providing fully ‘hands-off’ door-to-door transport on the road within the decade. Nissan Europe polled 6,000 people in UK, France, Germany, Spain, Italy and Norway to discover their attitudes to driverless motors.

Freedom to do things other than driving was voted the biggest benefit – no surprise as four out of five confessed to already ‘multi-tasking’ while at the wheel. Reading books or catching up on news is what most of Europe said they’d do with their extra time in the car, followed by sleeping, doing paperwork and watching TV or films.

The survey also revealed that almost a quarter of those planning to buy a car in five or more years would consider an autonomous car.

Paul Willcox, Chairman of Nissan Europe, said: “This independent report highlights that we are in the midst of a social and economic revolution.

“It shows that autonomous technology will have a fundamental impact not just on the automotive industry but across European economies and societies and it suggests that leadership within all levels of government is needed.

“At Nissan we believe, for the full benefits of autonomous drive technologies to be realised, governments and municipalities across Europe should review the report’s findings, work hand in hand with the automotive industry, and play a vital role in ushering in this new technological era.”