Top 10 Automotive Market Trends in 2018
As 2018 rolls off the showroom floor and onto the streets, keep your eyes on these ten automotive market industry game-changers that will continue to evolve the what, how, and why people buy vehicles.
While you upgrade your dealer website to be ready for 2018, many technologies are growing out of infancy and preparing the first steps into full automotive integration. Historians are likely to look back on 2018 as the year developments in the automotive market marked a turning point in the industry.
1. Self-Driving Vehicles
A fully self-driving world is still a ways off, but 2018 is definitely the year to watch closely as it begins. The benefit of reduced crashes, better traffic management, and higher passenger satisfaction means self-driving cars are an investment every major automotive market manufacturer is going to get into.
2. 3D Printing
3D printing has changed and will continue to change industries the world over, and the automotive market is no different. With the ability to literally print a variety of car parts at a higher rate of safety and cost effectiveness, watch as major players make higher investments in the technology.
3. The Cloud
Global, wireless networking—aka The Cloud—has transformed the way that manufacturers produced vehicles. From design and operation all the way down to servicing, cloud connections are eliminating waste that has traditionally been a part of car making. Watch for more integrations in 2018.
4. Internet of Things
The internet of things, or IoT, combines perfectly with cloud computing. When your lamp, toothbrush, and refrigerator are all connected to the internet, it’s no surprise your vehicle will be as well. Currently in developmental obscurity, watch these connected vehicles become more prevalent at all levels of the market as 2018 continues.
5. Crossover Vehicles
People want comfort, fuel efficiency, style, size, and more; seemingly a series of contradictions. But with the innovation of crossover vehicles, no one needs to sacrifice any want for access to another. The year 2018 is likely to see big investments and higher experimentation in crossover vehicles.
6. Electric Cars
At the same time crossovers get big, so too will electric cars. Tesla has blown open the electric scene, and now GM, VW, and Daimler AG are all racing to catch up. As gasoline continues to burn away into obscurity, this non-renewable energy source needs to be replaced by something—and electric it will be.
7. Multi-Terrain Vehicles
The baby boomers are getting older, and as they (kind of) retire, they are travelling farther across many different terrains. This has caused a rise in purchases of multi-terrain vehicles that offer the comfort and satisfaction of crossover vehicles with the freedom newly retired couples crave.
For those who live in metropolitan areas, car-sharing is on the rise. Emotional attachment to one’s vehicle has declined over the last few years, especially in big cities, which has led to the rise of car sharing. Go Green initiatives, the high cost of owning, and a lack of places to park in cities are all contributing to a robust car-share environment in 2018.
9. Better Pricing
Part of the reason costs for vehicles are driven so high is dealing with counterfeit parts. But as more solutions, such as blockchain, continue to make dealing with this problem possible, watch 2018 be the year where fair pricing becomes a common pricing strategy.
10. Big Data
By 2020, all new cars will be contributing to digital communication and the automotive market’s big data. Combined with the cloud and the IoT, watch 2018 be the year that seamless technology integration across devices becomes a reality, led by the automotive market industry.
Make sure you’re ready for these ten automotive market trends that are priming the pumps of the industry and preparing to car-pool manufacturers and consumers alike into a new automotive frontier.