The automotive industry is constantly on the move — expanding, growing, and evolving with each passing year. The industry has a clear, shared vision of the future that involves dramatic transformations to the automotive market.
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The latest developments in the industry are set to disturb the landscape with high-tech solutions such as shared subscriptions and ownerships, connected cars, smart autonomous vehicles, and electronic automobiles and new accessories like those sun shades for car windows or flat top trailers.
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While the industry is preparing for the transition to a more connected, digital future, car owners aren’t that keen on the transition just yet. However, if there’s anything that can expedite this slow but sure process that is bound to happen anyway, it’s the pandemic.
COVID-19 pretty much reshaped the world as we know it. It has also changed the way people travel. It also left many with financial problems and worries about keeping their credit score up. Since it caused many shifts in the automotive landscape, let’s quickly review some of the leading trends to understand better what car owners can expect in 2022 and beyond.
Post-COVID automotive industry will change the car buying experience
According to the most recent statistics, global sales of new cars went down by more than 12% in 2020 alone. That is quite enough to bring a serious financial crisis to the entire automotive industry. While this was quite a heavy blow on a global scale, not all countries were impacted in the same manner.
Countries like Brazil, the UK, Germany, and France, experienced declines of over 20%, while China saw a drop of only 2%. However, this was enough to cause a dramatic change in consumer behavior. The pandemic caused a decline in new car sales. Still, the vehicle aftermarket saw a significant increase in revenues coming from the sheer effort of the owners to save and preserve their existing cars. Car owners can now use powerful auto parts like a Whipple Shelby GT350 Supercharger to meet their specific horsepower goals.
This resulted in an increased number of car users putting off their purchases of EVs, hybrids, and luxury vehicles. The end result caused by the change in consumer behavior and the spread of COVID-19 ushered in a new innovative trend — virtual showrooms.
These showrooms allow consumers to move a good portion of their vehicle buying experience online. Since it is impossible to say how long this pandemic will last, this beneficial trend is definitely here to stay. For a convenient and budget-friendly option, consider exploring Australia’s #1 car marketplace for affordable used cars.
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The electronic vehicle initiative will continue to thrive
Even though the rise of the electronic vehicle industry has disturbed the sector up to a certain degree, mass EV adoption is still far from taking the world by storm due to many regulations and subsidies that may be needed to revolutionize consumers’ habits and behaviors.
However, many leading countries have launched the electronic vehicle initiative, hoping to improve EV sales, with backing from the biggest automakers in the world. For example, Amazon started testing electric delivery vans in 2021 as part of the brand’s effort to make its fleet run entirely on electric and renewable energy.
But before all consumers jump on the EV bandwagon and join the EV intelligence revolution, they need something more than just a green initiative. EVs are an excellent way to cut greenhouse gas emissions, but they are worth nothing without a proper plan for infrastructures for charging stations.
Thankfully, wireless charging stations are a viable solution that is yet to make its full impact. For most countries looking to expand this infrastructure, the hope is that they will be as easy to come by as are vehicle basics like spot free rinse system and fast carwash services. So, if you’ve planned to buy that new turbo 400 transmission for your car, now might be a good time to postpone your purchase and think about something more eco-friendly.
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AI is expected to enhance human driving abilities
Even though self-driving cars are already available, consumers are pretty slow to adopt this concept due to many trust issues. On the other hand, there are also specific problems with driverless cars, such as public perception, laws and ethics, and AI trustworthiness.
Despite low trust, autonomous vehicles with driver assistance systems are set to become the norm in automotive markets all over the world. It is now simply a matter of time. These new initiatives will also make AI more prevalent in vehicles and driving experiences. For example, Hayden AI is changing automated traffic enforcement through innovative technology solutions.
AI’s immense power can significantly enhance both the vehicle and the driving experience by constantly monitoring the driver and sending alerts when any deviation in their behavior is noticed.
The concept of developing the mobility ecosystem is yet in its infancy, but it already can reshape transportation and modern-day businesses. The idea involves connecting software platforms in one unified, easy-to-use, and manage — a multipurpose platform that is meant to assess and mitigate any network-level inefficiencies between the users and their available transport services.
One of such solutions is the appearance of navigation apps. These apps provide drivers with real-time traffic data that allow them to adjust their speed and traffic to the conditions ahead. Then, there are also smart traffic light systems, smart speed limits, and smart traffic grids, etc.
The only thing that stands in the way of widespread adoption of connected vehicles is that the concept requires a digital identity for each driver. Since this imposes data privacy issues, the solution is yet to be found.
The automotive industry is going through digital transformation. It has been open for disruption for years. The pandemic expedited the seismic shift that was bound to happen anyway. Now, all that’s left is to influence consumers to get on board with the latest innovations and smart technology concepts, and the new era is free to begin.