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The automotive industry’s prospects in 2023 and beyond will be impacted by a number of trends. These trends relate to how cars are driven, propelled, purchased, and shopped for.
We will give you an example of how external circumstances can impact the development of the automotive industry. The COVID-19 pandemic had a severe negative impact on the African market; the bulk of markets in the area have not recovered, and demand for cars has not yet reached pre-COVID levels. The African automotive industry was estimated to be worth USD 30.44 billion in 2021, and by 2027, it is anticipated to have grown to USD 42.06 billion, marking a CAGR of 5.55%. (2022 – 2027). Up to 2018, the demand for brand-new cars surged throughout the continent of Africa. Sales of new cars fell by 4% to 1.17 million vehicles in 2019 from 1.22 million units in 2018, as a result of the economy’s decline. Passenger automobiles made up 73.81% of the total, while commercial vehicles made up 26.18%.
In addition, if you intend to purchase a vehicle in 2023, you need to be aware of some data. Here are some crucial data pertaining to motor vehicles, along with the top 10 trends influencing the future of the quickly evolving auto sector.
Enhanced Electric Vehicle Production Through Digital Technology
Vehicles continue to include more digital technology from automakers. Aside from Tesla and Google, other tech firms are developing electric and autonomous automobiles. As a result, it is obvious that cars made in 2023 and thereafter will be loaded with equipment to handle digital touchpoints.
To power and handle the new, cutting-edge zero-emission electric vehicles, there is tremendous competitiveness to invent digital and software and electronic operating systems. Digital technologies will be installed in these new automobiles.
Increased Sales of Digital Cars
The ability to choose and buy the vehicles they desire online has begun to be offered to customers by manufacturers in Europe and North America. Customers may purchase at their convenience, research and choose the features they desire in a vehicle, and secure the financing they require using a computer or smartphone.
Additionally, dealerships now provide online sales, allow online shoppers to use simulated walk-around technology, enable at-home test drives, and transport vehicles to customers’ homes. In 2023, more dealerships will follow suit.
Increased Pre-Owned Vehicle Sales
The market for used cars is booming right now. According to specialists in the automotive business, used car sales would increase by 9% between 2019 and 2025. The market for used cars is expanding, especially for those four years old or younger. These cars are less expensive than new ones while still having many of the newest automotive innovations.
Pre-owned hybrid and electric cars are included in this. There are many certified pre-owned vehicles in dealership inventories today that perform, feel, and look like new vehicles but cost significantly less. Additionally, low APR financing contributes to the high allure of used cars.
Connected Vehicles in Larger Numbers
Vehicles that are wirelessly connected to the IoT are known as connected cars. These cars use on-demand capabilities that let you access the Internet whenever you want while driving, giving you a safe, pleasant, and convenient multimedia experience. Bidirectional communication between connected cars and numerous other systems outside of their local network is possible. Devices both inside and outside the car can access the internet and share data with the vehicles.
Today’s connected automobiles may access 4G LTE Wi-Fi Hotspots, provide digital information and remote monitoring, vehicle health reporting, data-only telematics, send and receive turn-by-turn directions, and actively intervene to avoid failures. By 2015, more than a billion customer requests had been handled, and in 2023, linked automobile technology—using anticipatory intelligence and maintenance technology—will explode on the scene in several ways.
Additional Creative Online Marketing Techniques
Automobile dealers in China sell vehicles, plan visits, and arrange test drives via third-party e-commerce platforms. Influencers on social media will play a crucial role in interacting with users and generating enthusiasm for the new cars that will be available in 2023.
Technology enablers that support the automotive ecosystem and connect customers digitally with engaging images, fascinating presentations, and persuasive pitches include G Forces, Roadster, Digital Motors, CitNow, and Sophus3. And in 2023, car purchasers may anticipate even more of it.
Fuel-Cell Electric Car Development
The global introduction of fuel-cell electric cars is anticipated for 2023. Fuel cell electric vehicles are becoming more and more popular since they recharge more quickly, have a range that can be up to five times greater than other electric cars, and only produce water while they are being driven.
Manufacturers of cars, trucks, and SUVs are making investments in the development of fuel-cell electric vehicles. Fuel cell electric vehicle technology is supported by China, Japan, South Korea, the United States, and Germany. Therefore, 2023 might be the year they finally succeed.
Joint Mobility
A new enterprise model that is gaining popularity is called ‘shared mobility’, and it offers an alternative to traditional car ownership. When using a vehicle jointly, two or more people have temporary access to it. It is mobility-as-a-service, similar to using Uber or a private rental. This demand-driven vehicle-sharing system has grown significantly in acceptance during the past few years.
A creative, convenient, and reasonably priced alternative to the high expenses and numerous obligations of automobile ownership is being created daily by new businesses that offer shared mobility solutions. In 2023, a significant increase in shared mobility is anticipated.
Self-Driving Autonomous Cars
In 2023 and beyond, autonomous self-driving vehicles will become more common. According to research, autonomous cars enhance fuel efficiency by 10%, increase safety, decrease downtime, increase the range of last-mile deliveries, decrease driver tiredness and negligence-related accidents, and cut emissions of CO2 by 42 million metric tons yearly.
Even in parts of the world considered not so developed, like in some African regions, steps forward have been to reduce bad emissions coming from cars. Just like there is the rise of trusted casino sites on the continent that can be found at topcasinoexpert.com/country/zambia/, African nations make progress in manufacturing electric car batteries. In April, a historic cooperation pact was struck by the Democratic Republic of the Congo (DRC) and Zambia to promote the growth of clean energy and electric battery value chains.
Self-driving technology has been installed by several trucking companies and tested at places across the country. By 2023, it will be ordinary to pass a self-driving Tesla or a squadron of unmanned self-driving commercial trucks on the highway.
Truck Platooning
Truck platooning is another development in the automotive sector that you will see more of in 2023. This occurs when many trucks use the vehicle-to-vehicle connection to follow each other closely while moving quickly. Truck platooning will become increasingly prevalent in 2023 and beyond because studies have shown that doing so significantly increases the fuel efficiency of trucks.
Truck platooning performs best when combined with autonomous freight transportation. Truck platooning will become increasingly popular as self-driving autonomous trucks become more prevalent on the road.
Partnerships Between Automakers and Technology Companies
It is hardly unexpected to see manufacturers and technology companies creating alliances given the speed at which new technical improvements are being incorporated into cars and other vehicles. To operate properly and safely, electric, networked, and autonomous vehicles need sophisticated software and cutting-edge technology.
Manufacturers of cars, trucks, and SUVs must either make significant investments in their tech departments or collaborate with tech firms that can create the new operating systems that the upcoming generation of technologically sophisticated vehicles will require. There will be a significant increase in partnerships between automakers and tech companies in 2023.
