Automated Vehicles Cost Savings Study


Automated Vehicles Cost Savings Study

Postby Rick » Sun Jul 24, 2016 11:06 pm

Carnegie Mellon just published a major study looking at the cost savings associated with implementing self driving features that are available today at reasonable prices. The article is titled: Cost and benefit estimates of partially-automated vehicle collision avoidance technologies

From the abstract:

Many light-duty vehicle crashes occur due to human error and distracted driving. Partially-automated crash avoidance features offer the potential to reduce the frequency and severity of vehicle crashes that occur due to distracted driving and/or human error by assisting in maintaining control of the vehicle or issuing alerts if a potentially dangerous situation is detected. This paper evaluates the benefits and costs of fleet-wide deployment of blind spot monitoring, lane departure warning, and forward collision warning crash avoidance systems within the US light-duty vehicle fleet. The three crash avoidance technologies could collectively prevent or reduce the severity of as many as 1.3 million U.S. crashes a year including 133,000 injury crashes and 10,100 fatal crashes. For this paper we made two estimates of potential benefits in the United States: (1) the upper bound fleet-wide technology diffusion benefits by assuming all relevant crashes are avoided and (2) the lower bound fleet-wide benefits of the three technologies based on observed insurance data. The latter represents a lower bound as technology is improved over time and cost reduced with scale economies and technology improvement. All three technologies could collectively provide a lower bound annual benefit of about $18 billion if equipped on all light-duty vehicles. With 2015 pricing of safety options, the total annual costs to equip all light-duty vehicles with the three technologies would be about $13 billion, resulting in an annual net benefit of about $4 billion or a $20 per vehicle net benefit. By assuming all relevant crashes are avoided, the total upper bound annual net benefit from all three technologies combined is about $202 billion or an $861 per vehicle net benefit, at current technology costs. The technologies we are exploring in this paper represent an early form of vehicle automation and a positive net benefit suggests the fleet-wide adoption of these technologies would be beneficial from an economic and social perspective.


There was a nice summary in a Forbes article titled: How $600 In Auto Safety Features Could Save Up To $202 Billion In Crash Costs

These features need to be mandatory, ASAP. Unfortunately, I know too many people that think these "automated" features will take the fun out of driving. Nothing can be further from the truth. The features only kick in when necessary or as warnings.
Rick
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