The automotive industry is one that is constantly changing and evolving each year, and 2022 is proving to be no exception. Every day we are hearing about new technology, features, or automotive brands hitting the market. Now more than ever, the automotive industry is evolving rapidly, and auto trends must be identified for companies to survive and thrive. In this blog, we will discuss this year’s latest auto trends so your business can stay ahead of the curve in this highly competitive, swiftly developing industry.
Electric Vehicles Aren’t Going Anywhere
Let’s start with what is likely the most obvious trend for anyone working in the auto industry—electric cars are here to stay and will take over sooner rather than later. In the second quarter of 2022, fully-electric vehicles reached a sales market share of 5.6% in the United States—a new record. This growth is expected to continue as charging gets easier and more accessible while gas prices remain high.
Additionally, most new automotive technology is being brought straight to electric vehicles and these vehicles are often the only place you can find certain innovative technologies. Self-driving technology, for example, can only be found in fully electric or hybrid vehicles; it is not currently offered in any vehicles that are exclusively gas powered. Consumers value technological advancements—especially younger demographics—and electric vehicles provide manufacturers with the best platform to bring fresh innovations and features to the market.
Vehicle connectivity is one of the most popular auto trends in 2022. The ability for cars to “speak” to one another and to automakers holds multiple current and future benefits. Connectivity can continuously deliver valuable information to dealerships and automakers throughout vehicle ownership. Vehicle data can range from engine performance to diagnostic codes and maintenance needs. This information helps automakers actively discover and fix issues that may develop during ownership while building better and more reliable vehicles for the future.
Another significant benefit of connectivity among vehicles is the role it plays with autonomous driving. One of the factors that self-driving vehicles use to know where other vehicles are on the road are radio signals. The more vehicles on the road that include this technology, the better this feature will perform, and the safer it will be for everyone on the road. Connectivity will become a mainstay within the automotive industry, as it benefits both the automaker and the consumer, and is integral in making valuable features work seamlessly.
The Internet is Influencing the Car Buying Process
While most car buying is still happening in person, the internet’s role in the process is growing consistently. These statistics from V12Data best demonstrate the significant influence of the internet in today’s buying process:
- 95% of vehicle buyers use the internet as a source of information.
- 76% of new and used vehicle shoppers run a search before buying.
- The watch time of “test drive” videos on YouTube has grown by more than 65% in the past 2 years.
It’s fair to assume that most consumers are now visiting a dealership far more educated on the vehicle they are interested in. Consumers may already know the differences between the various trim levels and editions of a vehicle, or they could even have an idea of how the car should perform and feel during a test drive. This is especially true for younger generations like millennials, who are twice as likely to shop for a car online and more comfortable making large online purchases.
Improved Safety Features
Among all the new technology being found in vehicles today, some of the most exciting innovations are safety features. In the past decade we’ve already seen brilliant features brought to market such as 360-degree cameras, blind spot monitoring, and stolen vehicle recovery devices. Safety will always remain a top concern among automotive consumers and this auto trend will continue to be a staple in the industry, as new technology continues to enable automakers to introduce groundbreaking new safety features.
Rapid progression within the auto industry is not expected to slow down anytime soon. The growth of electric vehicles is bringing new and exciting technologies along with it, and consumers are using the internet to research vehicles more than ever. It’s important to continue to monitor auto trends as they can change and evolve along with the automotive industry as safer, smarter, and more cost-effective vehicles continue to hit the market at a rapid pace.
Dealers can stay ahead of this technological shift by integrating smart tools like Elo GPS with CarRx. Elo’s inventory management software keeps track of battery health and the location of vehicles on the lot, providing an optimal test drive experience for customers. Plus, CarRx’s advanced tracking technology helps your customer assess their vehicle service needs and book a service appointment directly from their phone.
Schedule a demo today with our team of industry experts to learn more about Elo GPS.