Automakers urge government to pump the brakes on self-driving car regulations (TSLA)

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Regulators are pushing to issue guidelines for self-driving cars, but automakers are urging them to pump the brakes.

The National Highway Traffic Safety Administration (NHTSA) intends to complete regulatory guidelines for self-driving cars by July, reports Fortune. But last week, an automaker trade group told the NHTSA to slow down because the administration could be rushing to judgment on technologies that are still in early development.

The NHTSA said at a hearing last week that it wants to complete the guidelines quickly because there are already cars on the road with semi-autonomous features. The administration cited Tesla's Autopilot program that can steer cars, move speeds, and change lanes autonomously.

The regulatory body is concerned that more car and tech companies will put more vehicles on the road with semi-autonomous features without federal safety regulations in place.

The Association of Global Automakers (whose members include Toyota, Nissan, and Hyundai) countered that by urging the administration to take its time and thoughtfully create proper regulations rather than adhere to a self-imposed deadline.

The U.S. Department of Transportation pushed the NHTSA earlier this year to create the new guidelines in order to clear the road for self-driving cars. The technologies for these cars are advancing extremely quickly, but the lack of regulations for these vehicles creates unpredictability in determining when they can actually get on the road en masse.

The NHTSA's push to implement regulations suggests that fully autonomous cars could be on the road more quickly than expected. BI Intelligence, Business Insider's premium research service, estimates that self-driving vehicles will be on the market by 2019.

There are other roadblocks standing in the way of mass adoption of self-driving cars, but there is also plenty of potential for this market.

John Greenough, senior research analyst for BI Intelligence, has compiled a detailed report on self-driving cars that examines the major strides automakers and tech companies have made to overcome the barriers currently preventing fully autonomous cars from hitting the market. Further, the report examines global survey results showing where fully autonomous cars are highly desired.

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Here are some key takeaways from the report:

• Three barriers have been preventing fully autonomous cars from hitting the road: 1) high technological component prices; 2) varying degrees of consumer trust in the technology; and 3) relatively nonexistent regulations. However, in the past six months, there have been many advances in overcoming these barriers.
• Technology has been improving as new market entrants find innovative ways to expand on existing fully autonomous car technology. As a result, the price of the components required for fully autonomous cars has been dropping.
• Consumer trust in fully autonomous vehicle technology has increased in the past two years.
• California became the first US state to propose regulations. California's regulations stipulate that a fully autonomous car must have a driver behind the wheel at all times, discouraging Google's and Uber's idea of a driverless taxi system.

In full, the report:

• Examines consumer trust in fully autonomous vehicles
• Identifies technological advancements that have been made in the industry
• Analyzes the cost of fully autonomous technology and identifies how cost is being reduced
• Explains the current regulations surrounding fully autonomous cars

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1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP
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The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the emerging world of self-driving cars.