14 December 2017
With the Millennials stepping into dealerships
more than ever, 2018 is poised to be a defining year for the automotive
industry. Vying for the pie with dealers are new commuting concepts like
Mobility-as-a-Service as well as newer marketing models like Tesla.
1: Smart Cars with Drive Assist Technology
Technological advances are expected to take new
driver assist technologies mainstream in 2018. Technologies like Cruise
Control, Lane Departure Assist, Steering Assist, Park Assist, and pre-collision
systems, when combined, can deliver a semi-autonomous driving experience. This
technological trend not only helps minimize accidents, but also helps drivers
to be more socializing during long drives with friends and family, which 93% of U S
parents look forward to. In the next ten years alone, assisted driving is all poised to save over 900,000
lives and 1 Trillion dollars in insurance costs.
This trend will gain mainstream
status in 2018, with many sub-$20k cars being launched with these features for
the 2018 model year.
2: Hybrid and Electric Technology
While almost every automotive OEM has a Hybrid
model range, the good thing in 2018 is that this model range is now nearer to the
$20k price-point which makes them affordable to a lot more prospective car buyers.
At a time when the Millennials are hitting the
auto market in large numbers, the availability of Hybrids, Plug-in Hybrids, and
EVs at affordable price-points is of great significance.
3: Mobility as a Service (MaaS) and Shared Mobility
With ride requests rising 150% year on year, companies
like Uber and Lyft are ushering in a new mobility experience. This trend is all
poised to make further inroads in 2018.
This area will see exploding growth once
driverless cars go mainstream and the cost of MaaS offerings drop drastically,
but that may not be a reality before 2020.
4: Virtual Reality Car Experiences
Want to take a test-drive when it is freezing
outside? No issues, just put on your VR glasses and hit Go!
The same goes for demonstrating devices and
situations which are near-impossible to demo in real life – like what happens
in an accident and how air-bags are deployed.
Virtual Reality (VR) and Augmented Reality (AR)
are already available for automotive OEMs and are all set to hit dealer
showrooms in 2018, with service providers like izmofx leading the way.
With 93% of American parents saying yes to long
family drives, and MaaS providers growing exponentially in urban
transportation, the present Crossover trend is likely to extend into 2018 as
The NADA Market Beat for November 2017 confirms
this trend, with Crossovers accounting for 37% of the new vehicle market, at
the cost of mid-sized sedans which lost market share.
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