5 Major Trends Shaping the Future of the Automotive Industry
AutohausAZ, a staple in the distribution of high-end car parts including Volvo OEM parts online, is excited to present you exciting trends and interesting news about the world of automobiles. In this post, we will discuss how the automotive industry may change by 2030.
The automotive industry is in the throes of a crisis, and it must adapt to the imminent changes or perish. In recent years, traditional car manufacturers have experienced stagnant or tapering growth in revenue. With a paltry 0.3 percent increase from 2017’s total vehicle sales in the U.S., traditional automakers are struggling to stay afloat, while the advanced mobility technology of Tesla has earned the company strong revenue growth in the double-digits. The times, they are a’ changin’, and it’s survival of the fittest moving into the next decade.
According to an extensive recent report published by PricewaterhouseCoopers (PwC), over the next decade, there will be a considerable transformation in the auto industry. This transformation is predicted to occur through the continued development and increased integration of five significant trends represented by the acronym, EASCY: electrified, autonomous, shared, connected, and yearly-updated.
So, without further ado, let’s delve into each trend as addressed by PwC to better understand the world in which we may live.
Electrified
PwC predicts that electric, emissions-free travel will become a worldwide requirement and that we will charge our electric cars with electricity gleaned from renewable resources, guaranteeing CO2-neutral travel.
Autonomous
It is predicted that self-driving (autonomous) cars will flood the market and reduce the use of public transportation platforms. One of our previous posts discussed autonomous cars and software and their implications for our world, so feel free to read it for more information.
Shared
PwC claims that shared vehicles will be a more popular and less expensive way to get around. The effect will be lower transportation costs across the board.
Connected
Communication between cars, between cars and the outside world, and between vehicles and traffic management systems will increase, thus altering traffic patterns and social engagement on the road. In the same vein, PwC explains that cars will become another “place” between work and home, instead of just a line between the two.
Yearly-Updated
Much like the smaller tech of today, from Apple iPhone models to gaming console upgrades, cars will be continually improved upon and updated yearly, so that the newest technology will always be present on the road.
These trends are viable, and they are already developing and being implemented. Though these are predictions, and there is no guarantee that the world will look exactly like the one PwC asserts, the automotive industry must change its processes and business models to accommodate the future of transportation. Otherwise, society will begin to quickly cull the herd and move into the next decade with the ones which are “with the times.”
We at AutohausAZ are glad that you, our readers, take a keen interest in the world of automobiles, and we look forward to launching into the next decade and experiencing the future of cars with you. We will continue to provide you with unbeatable customer service and will remain the trusted site to buy genuine BMW auto parts online and many other high-end car parts for discount prices.
