Automotive industry trends in 2015
2015 belongs to the past now, because it is a new year and new life for many people and companies alike, however, I think that it still is beneficial to look at the past year in the automotive industry and see how it has changed and improved more specifically looking at the main trends of in this industry in 2015, so we are able to predict how this year in car industry will look like and what we can expect of it.
As much as there have been talk about many industries taking hits and showing drops in revenues and production volumes luckily last year car industry wasn’t among them. The automotive industry actually have shown stable growth as well as have brought in good amount of money during last year almost being back to the point it was before recession hit in 2008. But still there is uncertainty even in automotive industry that is considered as one of the biggest industries in the world.
The main challenge of car industry for the last couple of years have been uneven markets and last year was no different. If regions like the U.S., Europe, Russia, China, India and South America are quite robust with the U.S. leading the car sales, followed by the rest of the regions, where the stability and growth of the car sales vary. But the rest of the world isn’t showing that kind of stability in this matter rocking the overall stability of the auto industry.
Another thing that started to change largely in 2015 is the way people look at cars and decide which one to buy. If previously many stayed faithful to one car brand and purchased cars only from that brand, then now a trend is starting to emerge where people look at cars solely as ways of transportation therefore are searching for the one that best fits their requirements and needs not taking into consideration the car brand. And that is bad for car manufacturers because it affects that, how much people want to pay for their next vehicle therefore making the automobile brands to pay attention to the price of their cars, too, not only to the features they put into them.
Speaking of car features it needs to be mentioned that recently the mass market of automobiles is starting to catch up to the luxury car market in terms of the way the cars are equipped. That allows consumers to purchase automobiles with different innovative and high end systems at lower prices, slowly making these systems a standard in the mass car market and transforming the automotive industry. Soon enough many of the features that once were exclusive to only luxury cars will be a norm in the regular consumer cars making luxury cars lose their advantage over the mass market.
On top of that the fact that the rate in which advances in car electronics and different car software are invented is that much faster than the rate in which new car models are actually manufactured also is starting to cause changes in the automotive industry because car manufacturers need to find a way how they can catch up to the electronic and software manufacturers to be able to offer their customers the newest and best there is.
And, lastly, one more thing that we could start to see in 2015 was also that many countries started to talk about the tightening of their regulations in terms of safety as well as fuel economy of the cars. There were talks for obligatory features needed to be installed in the new car models such as backup cameras and different sensors that would increase the safety and comfort of driving these cars but that also increases their price as manufacturers will need to spend more money on equipping them. And of course again that would change the car industry molding it to produce safer vehicles and to think about safety instead of design first at the same time trying to keep down the costs to collaborate with the consumer demand for cars.
Over all you could say that 2015 in automotive industry was the year of changes or rather the start of changes in all fronts of the car industry – car manufacturing, car sales as well as the regulations for this industry. So we can only imagine what new innovations and changes we will be able to see this year and in the future. Automotive industry will never be the same, it will change and become more flexible to the everyday car user, and that definitely is a good thing!