Trends That Will Drive Change in the Automotive Industry in 2018
The past few years have witnessed the automotive industry taking huge leaps in terms of technological innovations. Automobile companies are investing heavily in the latest technologies that can be incorporated into their machines. In 2017, several top players in the sector had awed us with the pioneering pilot study on autonomous vehicles and new models of electric cars. The current state of innovations in the automotive industry is something that was far from imagination, probably a decade or two earlier. Though we will not be seeing flying cars like the ones from the popular movie ‘Back to the Future’ anytime soon, there are several exciting trends in the automotive industry that are expected to hit the roads this year.
Carpooling and shared cabs are the way forward
Who doesn’t loathe traffic jams? But considering the number of vehicles sold each year in the and the rate at which the vehicles-on-road is increasing, there no better outcome you could expect. Taking this into consideration, market leaders in the automobile industry such as Uber and Lyft have launched shared cabs and carpooling services. These facilities not only help reduce the stress while commuting but also reduce the level of pollution.
The new entrant: Blockchain
Of late, the use of blockchain for pathbreaking innovations in several industries has been making the news. This technology is slowly catching the attention of automobile companies. But what is the application of blockchain in the automotive industry? Dealing with counterfeit parts is one of the significant challenges faced by the companies in the automobile industry. Blockchain capabilities have emerged as the best possible solution to rectify this problem. With the help of blockchain technology, companies can simplify the methods to identify and remove the counterfeit parts. Furthermore, this brings transparency into the system and improves the overall pricing strategies.
An eye for multi-terrain vehicles
The adrenaline rush especially among millennials and baby boomers to be adventurous is popularizing multi-terrain vehicles in the automotive industry. Multi-terrain vehicles provide the comfort and ease of operation in difficult terrains. Additionally, their heated leather seats, frugal fuel consumption, five-door utility, and high-end audio systems are all incredibly appealing to the young customer segment.
Crossover vehicles are trending
Crossover vehicles have proved to be a huge success among the present generation who expect the comfort of an SUV with fuel and operational cost-effectiveness. Crossover vehicles are a mix of regular Sedans and SUVs. They have proved to be one of the most convenient ways to commute without compromising on comfort and style. In 2018, we can expect more players in the automotive industry to invest heavily in crossover vehicles.
Automotive manufacturing is going 3D
Numerous safety benefits and cost-effective nature are grabbing more eyeballs for 3D printed cars. At present, cars are designed to withstand up to five crashes and last an average of seven to ten years. But 3D printing enables automobile companies to build a car on a solid chassis with an outer body designed for a single crash. Then cost-effectively replace the damaged part while leaving the basic vehicle structure in place. This technology could completely disrupt our concept of accident repair of vehicles.