As the first quarter of 2018 ends, some of last year’s predictions about the automotive industry have begun manifesting. Car sales are growing steadily across the globe but declining in certain countries like the U.S. Automakers are becoming more serious about going green in their designs. The consumers are shifting to a bolder, yet more practical buying behavior. If you’re looking to buy, sell, or invest in a car this year, here are some of the trends you have to factor in your decision.
☞ A Slight Dip that Can Go Deeper
Global auto sales remain strong. However, some countries experience a certain decline, and it’s not difficult to understand why. More and more consumers are holding onto their cars longer even though many have grown less sentimental about old units. This is mainly because the quality of cars has significantly increased, making them more durable and impracticable to dispose of quickly.
Meanwhile, a major portion of the buyer population is leaning toward less expensive options, including pre-owned and leased cars. Ride-sharing services have also thrived and become more accessible, allowing the consumers to have a chance to get around more conveniently. These alternative riding solutions are expected to severely impact the automotive industry by the end of the year.
☞ The Advent of Self-Driving
The last couple of decades have seen a spate of high-tech cars into the market. Evolution of auto manufacturing has never been faster in the last decade, as the quest to come up with norm-defying designs has turned into a race among automakers. At the forefront of autonomous driving technology is Tesla, although it will take some time to take the premium off such a great feature. Despite the high cost, however, there’s no stopping the introduction of this new, sophisticated model into the market.
☞ Information and Entertainment
As technology becomes a major driving force of auto sale, cars of tomorrow are expected to have all sorts of features that facilitate communication, connection, and entertainment. Cars with interconnected features that allow app developers to adapt to cross platform users on mobile, tablet, and the web will be commonplace. Ford and Toyota are the biggest forerunners of open platform infotainment systems, which are designed capable of connecting to popular mobile phone operating systems like Android and iOS.
☞ Braving All Kinds of Terrain
Most consumers are accustomed to vehicles being classified according to their drivetrain and ability to handle certain types of topography. Today’s cars, however, are slowly evolving into multiple-terrain transports. While this sounds beneficial to motorists, it is not to automakers, as buyers will have all the features they need consolidated in a single vehicle. As quality goes hand-in-hand with great features, car sale intervals are likely to stretch out even further.
Car sale and purchase experience will never be the same this year and the next. Demands will rise and fall but factors, such as buyer’s behavior and concern for the environment will continue to influence trends. Keeping yourself up-to-date with the latest automotive news can help you make the right choice when purchasing a new vehicle.