The 2020 COVID-19 pandemic has affected every aspect of our lives, from the way we grocery shop to the way we work. If you can believe it, it’s also affected the automotive industry.
If you want to be on the cutting edge of cars, it’s important to know how these changes have affected the patterns and trends of the automobile industry. To keep you ahead of the game, these are all the important automotive news and trends that you don’t want to miss.
Electric Vehicles Are Booming
One of the biggest automotive industry news pieces is the rise of electric vehicles. This is due to several factors, including increasing incentives from the government.
Electric vehicles are predicted to rise in popularity by as much as 50% in 2021 and the trend is likely to continue in the upcoming years.
Conversely, sales of diesel vehicles are expected to decrease as more diesel drivers switch to electric vehicles.
Commercial Vehicles Sales Are Up
Many economists are predicting commercial vehicles to outpace passenger vehicle sales this year. This is due to low interest rates and attractive financing deals for companies.
Delivery options for food, clothes, and other goods have placed a higher demand on apps like GrubHub, DoorDash, Uber Eats, InstaCart, and Amazon. Consumers are using their personal vehicles less and relying on these commercial vehicles to deliver items instead.
This trend existed before the pandemic but has accelerated since then.
Digitalization Is Changing How We Buy Cars
In the future, car shows are going to be much less of a thing. Automotive digital retail is on the rise, shifting the way consumers buy cars and car parts, like dually wheels.
The pandemic has taught consumers how convenient and easy it is to buy items online.
This is a positive trend all around because it reduces the overhead costs associated with physical showrooms. Online marketplaces can offer more affordable prices. Some economists predict the share of online sales to double in the car market.
Increased Numbers of Subscription-Based Vehicles
The last major US automotive industry news to be aware of is the increasing number of subscription-based vehicles circulating the market. Subscription-based items outside of the car market have grown in popularity across the U.S. and it’s finally affecting the car market as well.
Subscription-based vehicles offer flexible contract durations, short vehicle commitments, and easy vehicle swapping.
Though this is a newer trend, it’s predicted to become a major aspect of the car market in the coming years.
Now You Know the Lastest Automotive News
These are the major updates and patterns in the 2021 automotive news. The 2020 pandemic has affected many of these trends, especially commercial vehicle sales. As more people are working remotely, fewer people need personal cars.
Though these patterns could change depending on world events, these predictions can help you understand consumer behavior.
The more you know, the better your decisions will be about your own automotive decisions. Remember, knowledge is power!
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