Top Five Automotive Trends For 2021
The automotive industry is one of the largest and most influential markets in the world, but the industry itself has been relatively stable over the past decade. This is changing rapidly as technological and environmental innovations are driving large enterprises to adapt to new challenges. Read more if you want to know more about these development trends.
Growth in Electric Vehicles:
The best market growth we are seeing would be in electric cars. With the help of the government, a sense of strong intentions emerges from the launch of the new EV model. The Economist expects global electric car sales to grow 37% by 2021, to 3.4 million, despite having only 4% of the global auto market.
Increase in Commercial Vehicle Sales:
With governments controlling infrastructure spending, the growth of commercial vehicles will exceed that of passengers. Car sales are expected to increase by 16% this year (passenger cars will increase by 15%). Low interest rates and attractive cash markets will also make a significant contribution to the return on China and other markets.
According to Mercedes Benz Greensboro, the demand for electric commercial vehicles will be on the rise.
Fortunately, OEMs are producing more EVs than ever. So, in 2021, there is no excuse to replace white vans with green vans and ship all cargo without emissions.
Trade Barriers and Import Tariffs will Define Global Trade and Imports:
The United States plans to increase inflation by imposing higher tariffs on equipment from China. Not only are these specifications controversial, but they are also controversial in technologies such as electric cars and advanced car development. The UK’s withdrawal from the EU could destabilize the UK automotive industry as the EU does not allow the use of UK duty-free vehicles with many foreign parts.
Digitization Will Offer New Ways to Buy Cars:
Almost everything has been available online since 2020. We are also working on our relationship and the way we do business. Drivers are more likely to hesitate to go to the dealer in 2021, and it will be easier for both drivers and dealers to buy a car at home. This trend began with the emergence of COVID-19 in the region in 2020, but will accelerate this year. The VW repair Greensboro expert said, “The share of online sales in the new car market is expected to increase by 10% by 1021 from the initial target of 5%.
The Automotive Parts Market Continue to Grow:
The global auto parts market has been growing steadily over the past 20 years and is expected to generate sales of around $732 billion by 2021. The internet and e-commerce have completely changed the market, and now 94% of consumers are paying attention to manufacturers. The pre-purchase product information website is expected to be $12 billion in 2021 and $19 billion in 2022.