Truck Drivers Stand to Lose Most From Self-Driving Vehicles: Goldman Sachs

America’s truck drivers will see the bulk of job losses in the coming decades as the full impact of self-driving cars and trucks takes hold, according to a report from Goldman Sachs Economics Research.

self-driving truck

Overall, U.S. professional drivers — truck drivers, bus and taxi drivers — could see job losses at a rate of 25,000 a month, or 300,000 a year, Goldman research shows.  In 2014, there were 4 million driver jobs in the U.S., 3.1 million of which were truck drivers, CNBC reported.

Semi- and fully autonomous cars will have about a 20% share of car sales by 2030, the report by a unit of Goldman Sachs Group Inc (NYSE:GS) predicts.

All things self-driving are shaking up companies and markets lately. Earlier this week, Ford sacked CEO Mark Fields for failing to keep pace in the autonomous driving race with rivals Tesla Inc (NASDAQ:TSLA) and General Motors Company (NYSE:GM). He will be replaced by the company’s highest-ranking self-driving cars expert.

Meanwhile tech-giant Intel announced in March was acquiring Mobileye NV (NYSE:MBLY) —  the maker of the “eyes” used by self-driving and auto-braking automobiles —  for $63.54 per share of MBLY, or $15.3 billion in all.  Last week saw the debut of Uber Freight, expanding its reach into trucking.


Article printed from InvestorPlace Media, https://investorplace.com/2017/05/truck-drivers-stand-to-lose-most-from-self-driving-vehicles-goldman-sachs/.

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