The automotive industry is predicted to fall this year. Though analysts had predicted a fall in 2018 too, the rise of 0.6% was surprising. The US auto sales are again predicted to fall by 1.2% to 4% this year owing to increased credit rate, stagnation of market across globe, high prices of used cars may push the price of new cars higher and decrease the sale and also because of the changing consumer needs. Well, here are the top changes set to take place in automobile industry this year.

Swiftly as the technology is improving and going towards achieving the unachievable. Future cars are all about integrating IoT and AI powerfully. We are already in the semi-phase of IoT and AI cars. We have cars combined with these offering us safety, driver alerts, voice assistant, gesture control and many more. This year we can expect the automobile makers to involve excessively.

China has been one of the top markets for automobiles in the past decade. The slowing economy, greater than ever public transportation and the drop of demand for passenger cars (which they produce in mass) are going to have direct impact on the China’s automobile industry.

Taxi aggregators who have had success in US and United UK are going big and expanding their horizons to countries like India, Thailand, European countries and also to African countries. Aggregators such as Ola, Uber and Lyft are going strong and beating evaluations of car manufacturers who are over 75 years in the industry. That’s how rapidly they are growing.

The vehicle marketplace is expected to grow. There are several marketplaces which are offering stock and customized packages on auto parts, car insurances, travel, dealership, valuable offers and so much more. Autoworld International is one such marketplace who supplies second hand cars in Trinidad& Tobago, second hand cars in Jamaica, second hand cars in Kenya, secondhand cars in Mauritius, second hand cars in Maldives, second hand cars in Cyprusand second hand cars in Fiji. Consumers love these and we can expect these companies to rise enormously in this space.

A fully operational autonomous car may still not be a reality, but car makers are competing intensively to be ahead in the race. Several companies are testing its models already and we can see manufacturers investing heavily in this space this year too.

This year will be exciting for electric vehicles. The growing pressure from the government to produce eco-friendly vehicles and growing demand for electric vehicles are pushing the car makers to give serious attention. We can expect significant changes from electric vehicles this year.

Car makers are now considering the GenZ . They are considering Genz’s unique demands and expectations adding to vehicle capability, features and design to entice the new generation.

Car subscription services are here to stay

Mindset of consumers is changing. As the new cars price rises, they are unwilling to buy new ones and prefer spending/investing on something that gets them returns or satisfies them with experience. Millennial and GenZ are the biggest customers of car subscription services.  By 2025 the industry is set to take over by having 16.3 million cars under its umbrella.