"If a user opts out of sharing geolocation data, this will undermine certain safety features such as preventing speeding in speed-limited areas, and will undermine traffic congestion information required to assist traffic management,"
I don't think most people are primarily concerned with the sharing of geolocation data. It's the fact the data invariably gets monetized so they can make money selling advertising that people particularly object to.
I don't mind the car sharing its geo data. I mind it sharing that it involved me.