Uber Worth More than GM, Will it Change the Auto Industry?

uber

Following the stock prices and industry valuations in the auto business can be an exercise in futility, not to mention an exceptionally dull experience without much reward.

The numbers, though, can provide an interesting glimpse into the trends, and the possible future, of the automotive industry.

An article at CNN Money dives into the dismal May sales numbers automakers have reported and their effect on stock prices. Other factors, including increasing fuel prices and automotive scandals, are contributing to slower sales.

All of this to say that, in addition to individual auto sales, automakers need large companies to purchase fleets of vehicles to help boost their numbers. One of the largest, and potentially one of the last, companies likely to purchase large numbers of cars is ridesharing startup Uber.

The irony here goes beyond measure.

Continue reading >>>