The aviation industry is a miracle to me. There hasn’t been a fatal air crash in America in four years, fares are relatively inexpensive and carbon emissions are surprisingly low. The automotive industry, which initially had a huge advantage thanks to Henry Ford and his assembly line, only now seems to be catching up, with emphasis on lighter, smarter and more fuel-efficient vehicles, even driverless ones. From an Economist report about the future of cars in the global market:

“As an investment, then, the motor industry has to be treated with caution. But its engineering and environmental credentials are improving all the time. A century after becoming a mass-market product, the car is still a long way from being a mature technology. Manufacturers and their suppliers are investing huge sums in a variety of improved propulsion systems and in new lightweight materials to meet regulators’ emissions targets. The current generation of models is already vastly cleaner than earlier ones, and emissions of carbon dioxide, nitrogen oxides, soot and other pollutants are set to fall much further. The smog that began to afflict traffic-choked California in the 1950s and is now obscuring the sky in Chinese cities will gradually clear. The day may come when environmentalists stop worrying so much about cars and turn their attention to other polluters.

Consumers will be in heaven. Improved manufacturing systems will allow the bigger carmakers to offer an ever wider range of models, supplemented by a steady stream of niche products from new entrants. Fierce competition will keep prices down even as cars are packed with ever more technology that will make them more expensive to produce. More of them will drive themselves, park themselves and avoid collisions automatically. That should cut down on accidents and traffic jams, reduce the stress associated with driving and provide personal mobility for the growing ranks of the elderly and disabled.

All the technology that will go into making cars cleaner will also make them far more fuel-efficient and more economical. For motorists with short, predictable daily drives, all-electric cars may prove adequate and, as batteries improve, increasingly cost-effective. Others will be able to pick from a range of propulsion systems, including hybrid, natural gas and hydrogen as well as improved petrol or diesel engines, to suit their needs.”