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Study: People Willing To Pay Nearly $5,000 For Autonomous Tech

Study: People Willing To Pay Nearly $5,000 For Autonomous Tech

There’s no question autonomous vehicle technology is still in its infancy, which means that overall awareness of it with the buying public is still vague. Nonetheless, a new study has emerged to gauge demand and basically the price elasticity of autonomous vehicle technology.

The study, uncovered by CNet, paneled over 1,200 participants and questioned them about two classifications of autonomous technology. The first classification is semi-autonomous technology; basically the advanced safety features that many vehicles are equipped with today, such as lane-keeping systems and automatic braking. The second classification is completely autonomous technology, which has not yet hit the market beyond test pools of vehicles in certain states.

Like most studies, the results of this one are lengthy and detail various demand levels for both partial and total autonomous vehicles. Those interested in the details should read the study, but the gist is that participants suggested they would be willing to pay up to $3,500 for partial autonomous vehicle technology. Subsequently, they’d be willing to fork over $4,900 for totally autonomous technology.

Now, the study cautions that the newness of autonomous technology is likely swaying the results a bit. Likewise, the study notes that responses relating to price varied widely among the 1,260 participants.

Fortunately for all buyers, many automakers are starting to make the “semi autonomous” safety technology standard or very low-cost options. All new vehicles will have to feature automatic emergency braking as standard equipment by 2022, per federal regulation.

What amount would you pay for an fully-autonomous vehicle?





 

About Nick Saporito

AutoVerdict Senior Editor Nick Saporito began writing about cars at age 13. Nick ran a couple of automotive enthusiast sites for several years, before taking some time off to focus on his career and education. By day he's a marketing executive in the telecom world and by night he hangs out here at AV. You'll find him focusing on tech, design and the industry's future.
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 Latest Forum Messages
  1. 2b2
    am I late with this / the last one?

    has any-every one-else already thought of a new hobby of

    - finding a small hill

    - spreading motor oil on the downslope

    - making popcorn & ...
    donmateo
    I would pay $5k to NOT have autonomous driving.
    BurnOut
    0fxxk0
    I dont want it,never desired it,and never will be willing to pay anything for it.


    While I enjoy driving, I don't enjoy driving in traffic... and would certainly be willing to put my vehicle on autopilot and zone out while it drives my commute for me.
    0fxxk0
    I dont want it,never desired it,and never will be willing to pay anything for it.
    BurnOut
    Here's an interesting question, and one that I'm sure the OEMs are looking at... might we see a roll-off of impact safety features (crumple zones, enough airbags to turn the interior of the car into a Stay-Puft marshmallow in the event of a collision, etc...) once autonomous driving technologies become more prevalent? The reasoning (in theory) would be that as humans are increasingly removed from driving, collisions would be less likely, thus negating the lifesaving advantages provided by some of the previously mentioned safety features.
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