LAS VEGAS - Dash cams are a big business in countries like Russia and China, but not so much in the U.S. However, that could change soon.
In foreign countries, drivers use dashboard cameras for security and fraud protection in case they're involved in a collision, Chris Kooistra, senior director of brand partnerships for Cedar Electronics, told Investor's Business Daily at CES 2018. Video from dash cams provides compelling evidence that can determine who's at fault in car accidents, he said.
In Europe, insurance companies offer discounts to vehicle owners who use dash cams. That's not yet the case in the U.S., Kooistra said.
"While insurance companies here don't support these yet, they all accept the footage," he said.
Cedar Electronics brand Cobra sees an opportunity to provide dash cams for ride-sharing services such as Uber and Lyft for safety and security purposes. These cameras have both front- and rear-facing cameras, so they can record what's happening in the car as well as the road ahead, he said.
The presence of the cameras can provide peace of mind for ride-hailing service drivers and passengers, Kooistra said.
"We believe everybody should have a dash cam," he said.
Automotive navigation device maker Garmin ( GRMN ) also was showing of dash cams at CES 2018. The four-day show ended Friday.
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