Reuters – U.S. consumers still resist the notion of self-driving cars, according to a University of Michigan study released on Monday, the latest sign that investors and automakers may be rushing into a business where demand is limited at best.General Motors recent acquisition of Silicon Valley startup Cruise Automation for a reported $1 billion has accelerated a stampede by other automakers, suppliers and venture capital firms looking to invest in or acquire new companies developing self-driving technology.Consumers, meanwhile, remain concerned about aspects of self-driving technology and overwhelmingly still want the ability to manually control a self-driving vehicle, the study said.

The most frequent preference for vehicle automation continues to be for no self-driving capability, said the study s authors, Brandon Schoettle and Michael Sivak.The survey results are consistent with those in a similar survey that the university conducted a year ago and generally mirror the findings in a study that the American Automobile Association released in March.

The AAA report found that three out of four respondents were afraid to ride in a self-driving car.The latest University of Michigan survey found 46 percent of respondents preferred no self-driving, followed by partial self-driving 39 percent and complete self-driving 15 percent .Nearly 95 percent of respondents said they wanted to have a steering wheel plus gas and brake pedals so they could take control of a self-driving vehicle when desired, the study found.Traditional automakers and suppliers have embarked on a gradual phase-in of self-driving technologies, from automatically regulating speed and braking to keeping the vehicle from drifting out of its traffic lane.Electric car maker Tesla has gone a step further with its Autopilot system, which gives owners the option of limited self-driving on the highway.Technology companies led by Alphabet Inc s Google favor an all-in approach, with its latest prototypes designed to drive automatically without steering wheel or pedals.

Reporting by Paul Lienert in Detroit; Editing by Lisa Von Ahn

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