Will self-driving vehicles cannibalise the car industry?

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An increasingly popular theory is that we’ll no longer need to own cars. If we want personal transport we’ll be able to call it in a matter of minutes using a smartphone app and only pay for the time we use it. Not only will this be cheaper for the consumer, the theory goes, but it will also make more efficient use of our vehicles because they won’t spend most of the day sat idle waiting for us to return.
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