Advancements in technology allow for the automotive industry to present new changes influenced by various sectors.
As more and more individuals all over the world are clamoring to purchase vehicles that are offered with new upgrades, this industry will continue to have a steady demand, and will most likely take a long time to die out.
Here are some trends in the automotive sector that car enthusiasts will see this year:
The source of raw materials for vehicles is more volatile and unpredictable
In the coming years, the automotive industry will see a change in the source of raw materials for their vehicles. See this page to learn more about these parts, gear, and raw materials for cars.
If the sources of raw materials in the past were stable, the opposite holds true now, and this is one of the few negative emerging trends in the automotive industry.
News headlines all over the world will show you that in many countries, there are now unpredictable situations relating to war, terrorism, a decline in economies, and unstable prices of gas, oil, and other raw materials.
In this manner, it can also affect the stability of the costs of cars as finished products.
The widespread demand for crossover type vehicles
If you take a look in the streets around you, you will see that there is an increasing presence of crossover type vehicles. Crossover vehicles refer to cars in between a sedan and a sports utility vehicle (SUV).
More buyers are leaning towards crossover type cars because of these features:
- It has the sleekness and fuel cost efficiency like that of a sedan
- It has the functionality of an SUV
- It has the comfort of a van
Fans of crossover vehicles unanimously agree that this may be one of the most practical options of a car purchase, because of its effective mix between sedan and SUV.
It can carry so much more than a regular car can; however, it is also easier to maneuver around the streets and park because of its smaller size compared to an SUV.
The need for more connectivity and data-driven vehicles will be seen in newer car models
Connectivity is one factor that is a common need across the globe. When it comes to buying gadgets, electronics, and even vehicles, consumers are usually on the lookout for products that enhance connectivity, even while on their idle time on the road.
In past years, the automotive industry has seen an increasing number of vehicles with built-in maps and GPS services, and this will only continue to improve along with technology in the coming years.
For example, cars might see models no longer just with built-in televisions like in the past, but with flat screens that can allow you to access the following while you are a passenger:
- Social networking pages
- Dropbox, Google Drive, and other file-creating software
The practice of carpooling or car sharing will be more common
Carpooling or car sharing refers to the practice of sharing in one vehicle if you are all going to the same destination, such as neighbors going to school, or officemates living in the same building.
There are a few who already practice this in the past, but the continuing problem in traffic is driving more individuals to go for carpooling.
Car sharing is not just friendly on the traffic, but on the environment, too.
Because you are sharing one car, you effectively minimize your carbon footprint by only using one car instead of driving multiple vehicles.
The consumer mobility behavior will increase
As people have wanted cars in the past, in the next coming years, people will want more and more cars. Consumers are now more concerned about mobility, where they now care so much about the need to feel secure that they can easily travel from one place to another.
Compared to the past, more consumers now see the importance of owning at least one vehicle in the household, making the goods sold in the automotive industry no longer a want, but a need.
For example, multi-terrain vehicles will be more in demand, as the baby boomer generation, who are now leaning towards retirement, are more open-minded towards the advancements in mobility that technology can bring.
They now see that multi-terrain vehicles that can assist them in their daily activities, such as picking up the groceries, are beneficial.
This fact is in opposition to the past trend where baby boomers are content with staying in retirement homes, where they have fewer clamors for mobility in the outside world.
Remember that although the market for the automobile industry is constant, consumer behaviors are also changing and evolving regularly.
A quick look at these trends will show that technology is still the top player in producing trends that shape any industry in the global business market.
These trends mentioned above, therefore, can significantly affect the way that consumers, like yourself, perceive what it is they want to see from the automotive industry.