The Economic Perspective: “Shake-up in Transportation”

Mary:  This is Mary Walden with economist MW welcoming you to the economic perspective.  Today’s program looks at a shake-up in transportation.  Mike, the coronavirus and its aftermath is – and will – create numerous changes in the economy.  Probably one of the sectors most impacted will be transportation.  What will be some of the changes we might see?

 

Mike: Summary Answer

  • Five impacts
  • The move from owning individual vehicles to ride-sharing may be reversed, as people seek to minimize personal contact
  • Similar movement away from mass transit
  • Sales of electric vehicles may drop with gas prices so low
  • Increase in tele-working may reduce daily commuting
  • And, with driving possibly reduced and gas prices low, more motivation for states to find alternatives to gas price taxes
  • I’m MW

 

Mary:  And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.