GM sees autonomous cars as chance to grow urban share

GM sees autonomous cars as chance to grow urban share

Although some analysts have said autonomous vehicles and ride-sharing companies, such as Lyft and Uber, could cut into car sales, General Motorsê North America CFO John Stapleton sees them as an opportunity for sales growth.

Both trends could present an opportunity for GM to increase its urban market share, Stapleton said at a conference in NewYork. Both are concentrated in urban areas, which are where GM is weakest, he added.

Stapleton said he expects ride-sharing services to grow substantially. Earlier this year, GM imvested in Lyft and created its own ride-sharing company, Maven. He said that Maven includes some off-lease cars, according to Investorês Business Daily.

Stapleton noted that a self-driving Bolt EV has been doing test drives around San Francisco. But he warned that autonomous vehicles must be proven to be much safer before their use becomes widespread.