The story of the motor car remains an unparalleled success story. But things did not always look so promising. Legend has it that when Carl Benz registered his patent for a motorised tricycle on 29th January 1886, sceptical peers were quick to ring the alarm bells with their doom mongering: “The poor man. He is going to ruin his life and his business with this half-baked idea.”
As things turned out, however, a fascination was born for this new form of automotive transport that remains undiminished to this day. The car's success story had begun and since the start it has always been accompanied by technological progress. The first major breakthrough was achieved with the development of the petrol engine. Then, a good 70 years later with the introduction of automated manufacturing, the car became a mass-produced item, one that was affordable for almost everyone.
Has technological progress become a threat to the automotive industry for the first time ever? Does the digitalisation of mobility in the form of on-demand services and driverless cars herald plummeting demand in the sector?
The answer from our experts at Deutsche Bank Research is: no. Discover more in our film “The car is dead, long live the car” from the new #dbInsights film series.