Do you know anyone that owns a Tesla or a Hybrid? They are becoming more plentiful on the road. Which is causing a problem for a sector of business.
Gas stations across the country are now facing a significant long-term problem; the rise of electric vehicles and other car tech could zap their business if they don’t adapt to a slew of trends that figure to lower demand for gasoline.
One dire prediction in a new report by the Boston Consulting Group: Without changes, up to 80% of gas stations could be unprofitable by 2035.Though the reality may not be that bad, expect many stations to mull updates, such as launching or expanding food and drink offerings, upgrading Wi-Fi service and seating, and adding charging stations, assuming that they can get drivers to wait 30 minutes.
They also need to determine a proper method to bill for charging electric cars, but that is another topic all together.
Think about how this is going to affect your investment portfolio…