Survey says: People are ready to pay extra for self-driving cars!

Well, we all know about the buzz revolving around self driving cars and it may not be too far away, before we witness a couple of them on the road. A recent private research stated that, consumers are also willing to splash out generously on this new technology.

On a general note, it was revealed that autonomous driving technology was a certain feature that most vehicle owners wanted on their cars. And people are willing to pay as much as $1000 extra for this latest technology.

There is a large subset of consumers who are willing to pay for full autonomy features demonstrating that consumers see this more as a value-add rather than a necessary safety component, at least for now,” said Colin Bird, senior automotive technology analyst for IHS Markit.

Tesla has made most of the market with the introduction of the Enhanced Autopilot System. This is a driver assist system that offers hands free driving at a starting price of $5000. This entry level model is an option that allow drivers to take their hands off the wheel for certain short periods of time.

Consumers Ready To Pay For Self Driving Cars

For those interested in a full self driving system, Tesla offers a version of its ADAS system at an extra¬†$8000. Although, this technology is still under the mainframe and has not been pushed out to the Tesla models through the “over-the-air” software update.

Following Tesla’s footsteps is Cadillac who have surfaced their new Super Cruise Technology into the CT6 models for those who are willing to shell out an additional $2,500. This Cruise Tech will allow users to drive hands free on highways.

Following the Moore’s Law Concept, prices of such technology and services are bound to drop with the introduction of more and more vehicles with such features. But at the moment, consumers have shown great interest in this tech and are willing to pay what it takes to take their hands off the wheel. How much more do they have to pay? That depends primarily on where they live.

Consumers Ready To Pay For Self Driving Cars

According to IHS Markit, car buyers in the U.S. are willing to pay an extra $780 for full autonomy technology. By comparison, those in Germany would pay $1,016, while those surveyed in China would only pay an additional $555, on average.

In the U.S., just over half of those surveyed indicated they want full autonomy technology in their next car or truck.