The Dangers of Automotive Internet Connectivity – Don’t Fall For It
Can you really trust the automotive industry to do the right thing for consumers? There is a very dangerous trend in the industry that I think will create a huge problem for consumers that drink the Kool-Aid. It is all about the internet connected car.
Business Insider reported this story last week:
“Automakers are in a rush to add internet connectivity to cars. They’re doing this for a number of reasons, including to collect data from the vehicle, push over-the-air updates, and improve car safety.
But one of the biggest ways automakers are leveraging connection in their vehicles is by selling connected car products and service. By 2020, revenues from connected services are expected to top $152 billion.”
Don’t be fooled – They aren’t doing this for safety reasons. They are doing this to make money as quickly as possible without exploring the consequences. They have been approaching automotive production like this for year. All one has to do is look at the record number of recalls to see it is about speed and production rather than quality automotive production. Their negligence in the automotive production process is showing up in recall after recall. Some of these recalls have deadly implications.
The biggest problem with the internet connected car is hacking. Do you really think that automotive manufacturers are doing their due diligence to ensure that these new Wi-Fi generated systems are safe from hackers? How would you like to be driving 65 miles an hour down a freeway and sometime hacks your car and applies your brakes?
The problem with this profit driven industry is that they are all in a rush to keep up with the competition. They are rolling these products and add-ons out as fast as they can. You can’t tell me that they are putting much thought into the potential safety risks. The hackers are way ahead of the good guys. In fact, it has already been proven that hackers can easily hack into these automotive systems and take control of a car.
Minus the potential of getting hacked, are these pricey add-ons even worth it?
The business insider reported that “about half of those who have a connected car actually use the car’s connected features, and those who do use many of these features shows high levels of satisfaction with them.” Half? That is not a ringing endorsement. That is the problem with these pricey add-ons. They sell very well on the front-end and then after driving off of the showroom floor you never use them. They are a prime example of buyer’s remorse!
So, the next time some salesperson wants to entice you with a navigation system, a way to check Facebook in the car, and a way to listen to Pandora, pull out your cell phone and just say no to the add-ons. It is not only a waste of money. It is a potentially serious safety issue the moment you connect to the internet. Remember car manufacturers are trying to gain market share and make money and not to make sure you are totally safe. If that weren’t the case, there wouldn’t be so many recalls.
Bob Brooks is host of The Prudent Money Radio Show, Financial Advisor, and active money manager that consults and helps people plan.