According to leading automotive industry trends in both 2019 and 2020, automotive technology will be extreme, innovative, and highly intense. This article will go into the trends and technologies we have seen so far and go into what the future may look like:
We Might See a Drop in Vehicle Sales This Time
Vehicle sales in emerging markets may decrease this year because of rising vehicle costs, increasing public transport costs, and innovative new mobility options. The automotive industry will also face new challenges such as fuel economy, environmental issues and driver safety.
Customer Experience Improvement
On the positive side, the industry has made great strides in its customer experience improvement agenda and customer satisfaction. On the other hand, many factors such as dealer inventories, lack of connectivity, high prices, customer dissatisfaction, poor service, and customer inconvenience may cause problems in this area.
In addition, several regulations such as the CA Lemon Law and HET Act could further boost customer dissatisfaction. As a result, automotive industry trends point to an industry which will be focused on customer experience improvements.
New Technologies are Emerging
On the plus side, new technologies such as Artificial Intelligence, GPS, and cloud computing are transforming the way customers are buying vehicles. Several studies have shown that customers are now more willing to pay higher prices for cars because of the advantages of new technologies.
Many automotive industry trends expect greater levels of technological investment and innovation in the future to enhance customer satisfaction and profitability further. Therefore, companies should be ready to embrace new technologies if they want to succeed in the future of the automobile industry.
One of the top industry trends this year is the adoption of technology in the automotive industry. Most major car manufacturers adopted automatic seat belts, significantly reducing crashes and injury to drivers during the 2009 summer season.
Automotive companies are also investing in ride-on-demand services, which provide customers with a personal chauffeur service. Furthermore, tech startups saw several successful startups in the area of self-driving vehicles and autonomous driving. Several carmakers, tech startups, governments, and manufacturers are investing in these technologies to advance their capabilities further.
Quality Mobility Solutions
Another popular topic during the current automotive industry trends is mobility. Several studies indicate that Americans are becoming more aware of their freedom to choose where they live, work, and travel. This awareness is transforming the way Americans live, go about their daily lives, and shop.
Consumers are willing to pay more for quality mobility solutions because they are willing to invest in a personal assistant or an entire mobility system for their vehicle. Automotive dealers are responding to these customers by adding mobility features to their vehicles. For instance, some dealerships are installing LATCH and OPDS sensors in vehicles to protect the passengers if the car breaks down or has a problem while on the road.
SUVs Sales are Increasing
According to several automotive industry trends, sales of SUV’s continue to increase in the US while sales of mid-size and small vehicles are decreasing. SUV’s offer greater cargo space, more safety features, better passenger and driver accommodations, and superior gas mileage.
People Still Go for Small Vehicles
However, many people choose smaller vehicles because they cost less to insure, making them a good investment in the long run. Many dealerships have decided to add new technologies like the latch and OPDS to their vehicles as well. For instance, some dealerships have started installing LATCH sensors on the door handles to protect the passengers if the doors were unexpectedly open.
Real-Time Vehicle Tracking
One of the automotive industry trends that has proven to be incredibly helpful is real-time vehicle tracking. Most vehicles today contain some form of vehicle tracking technology to help locate a stolen vehicle.
Most vehicle tracking systems use satellite technology to locate vehicles and can also track the speed that the vehicle is traveling. The US Department of Transportation, local police departments, and insurance companies are all implementing real-time vehicle tracking systems to help reduce the high cost of stolen vehicles.
To Sum Up
Automotive industry trends and technologies will continue to transform the way we live our lives in years to come. With the introduction of new technologies, there will be an increase in driver and pedestrian traffic, which will lead to a rise in congestion and air pollution.
The need for reliable, safe vehicles will also increase, as will the need for improved crash recovery procedures that protect the lives of those who are critically injured in vehicle crashes. These changes are likely to occur at an increased rate in the next few years, bringing with them some changes in automotive industry reports.
