12 Automotive Trends Across the Globe in 2022
Over 2021 the automotive industry has experienced reduced inventory as well as price increases and production delays which is connected to the semiconductor chip shortage. The automaker industry is changing with a move towards electric vehicles and zero emissions. There are various automotive industry trends that have emerged. 2022 automotive trends have come into play and we will discuss these in more detail. These trends in the automotive industry dictate the auto manufacturing landscape.
The 2022 automotive trends are as follows:
1. New Car Prices are Predicted to Rise in 2022
One of the automotive industry trends is that price increases for vehicles are attributed to a variety of reasons. The demands for cars in 2022 are high, even though inventories stay low. There will be less dealer discounts. The semiconductor chip shortage and supply chain constraints due to the pandemic means the auto industry has had a lower production rate than normal. According to CoPilot, a car purchasing app, the crossover models production in 2021 was down by 63%. This is the biggest automotive sector.
Wages have gone up and supplies are more expensive going into 2022. Trends in the automotive industry include model prices going up so that car manufacturers still make a profit. The below $20, 000 car has gone from the US car space. In 2021 Kelly Blue Book tracked the mean transaction price for new cars. August in 2021 was the fifth consecutive record-breaking month of new vehicle prices at a mean amount of $43, 355. This is quite high.
2. The Market Will Deliver More Electric Vehicles (EV)
Automotive trends for 2022 include the emergence of more EVs on the market. Fortune has said that “roughly 3.2 million of the total 10.2 million EVs built and sold can be found in Europe, nearly twice as many as those driving on U.S. roads.” EVs are also very sought-after in China with 4.5 million EVs on the roads. Expenditure in the EV market in the U.S. has been gradual, with sales expected to increase in 2022. In 2021 the top-selling EVs were the Tesla Model X, the Hyundai Kona Electric and the Chevrolet Bolt EV. EVs are less harsh on the environment, a green choice and offer a smooth driving experience. If you want to go green you could also buy a hybrid car.
3. Self-driving Technology Increases
According to 2022 automotive trends, self-driving cars are on the rise. Self-driving cars don’t require drivers to operate the car. The car uses sensor tech like radar, lidar and sonar to operate. They use odometry measurements to monitor environmental fluctuations and monitor speed. The terms used to describe these cars are “driverless cars” and “autonomous cars”. TWI Global says that there are in fact 6 automation levels. The higher levels involve more advanced technology. A level 2 automated vehicle has automatic braking and acceleration, while the driver needs to carry out most of the tasks still. Level 5 automation, means the car can perform all the tasks linked to driving. The driver’s help isn’t needed.
4. Automotive Cybersecurity Increase in 2022
Automotive trends such as automotive cybersecurity refers to protecting the digital systems in a car, meaning hackers can’t gain access to the car’s tech. Cybersecurity technology means criminals can’t steal data, manipulate the car, or cause damage to the car. This year (2022) new cars will have more in-depth cybersecurity features, due to increased threats out there. If you have cybersecurity concerns, research the car you are wanting to buy and its tech before you buy it.
5. 2022 Trends in the Automotive Industry Sees a Focus on Connectivity and Machine Learning
Globally, developers are making more use of AI and machine learning to improve connectivity. According to Perforce, “96% of new cars will have connectivity built-in by 2030.” This will mean cars will have more advanced technology for emergency braking and entertainment as well as cybersecurity.
A connected vehicle means that it can connect to the internet and can share internet connections through different devices. This refers to devices outside the car and inside the car. Connectivity is beneficial to the driver and passengers. You can integrate your tablets, services and smartphones. If you use your car in a commercial sense it’s helpful for fleet management and vehicle-to-vehicle communication.
6. The Demand for Vintage Sports Cars will Increase as one of the Automotive Trends in 2022
New sports cars’ demands have gone up, and so has the interest in vintage sports cars. Cars from the ’90s and 2000s are considered collectibles and haven’t depreciated, says Howard Swig, Head of Auctions at Bring a Trailer. Collectors are keeping the more popular models so the sale price at auctions go higher. Swig also says Ferrari Dinos, Jaguar E-Types and Porsche Speedsters have been popular in the past. Now, there is increased interest in European classics.
7. Used Cars Won’t Depreciate in Value as Fast as Years Gone By
With fewer new cars being manufactured and sold as typical of a normal year, demand for new cars is restricting the supply of the used car market. Due to this, used cars won’t depreciate as fast as the years go by. Many used cars’ costs are similar to a new car. According to CoPilot, since late 2020, used car pricing has gone up faster than seen in new cars, and is up by 30%. Trucks are the best-selling cars on the market.
The used truck inventory went down by 7% in 2021, with truck prices rising as the consumer needs needed to be met. According to J.D Power in 2019, a new truck fetched an average price of $51, 500. Kelly Blue Book discovered in mid-2021 that a new truck fetched a price of $56, 200 as an average price. For example, a 2019 Chevy Tahoe should be worth $45, 000 now but its actual worth is $63, 000.
8. Safety Features Have Improved
As time goes by, the safety features on cars have improved. Top safety features such as adaptive cruise control, lane departure warnings, emergency braking, blind-spot detection and electronic stability control keep drivers and passengers safer. These days drivers check the car’s safety score before buying. According to MotorTrend, safe vehicles on the market include the 2021 Mazda 3, Honda Insight and the Subaru Legacy.
9. Insurance Trends are Seen as Automotive Trends in 2022
As drivers become more dependent on self-driving technology, risk will be determined on software and AI. Tools such as drones, datasets and satellites will help insurers calculate risk with better accuracy. According to McKinsey, there are different factors that will shape the insurance industry’s future. Some of these factors include AI, connectivity and distributed infrastructure.
10. Improved Vehicle-to-Vehicle Communications is One of the Trends in The Automotive Industry
You may be a good driver, but it’s hard to anticipate the actions of other drivers on the road. Accidents can happen at any moment caused by a single distraction. Vehicle-to-vehicle (V2C) communication implies that your car can react without your help. The tech lets cars communicate, keeping drivers safe. How does the system work? V2C shares car location information, speed and direction. The technology operates by sharing messages then deploying safety measures when needed.
11. The Emergence of Blockchain and Vehicles
Many auto manufacturers are using blockchain technology to share data. This allows mobility services as well as connectivity seen in urban transport, deliveries and ride-sharing. Companies can use blockchain to verify supply chain data. Industry leaders predict that blockchain will be used to aid autonomous cars. According to Investopedia in 2021, in using the blockchains ledger, self-driving cars would be able to access important traffic data with improved accuracy. Blockchain technology could simplify payment systems in tolls, repairs and insurance.
12. The Emergence of Vegan-friendly Cars as one of the 2022 Automotive Trends
Vegan-friendly cars are seen as one of the automotive industry trends in 2022. These cars are getting more popular. According to Car Magazine, some of the top vegan-friendly cars include the likes of the Tesla Model S, the Ford Mustang Mach-e and the Range Rover Velar. These cars have seats made from recycled material, not leather. There is a rise in ethical, green-buyers of cars in 2022.
Other methods that drivers are embodying in becoming more green include:
- Reducing your time on the road by using alternative transport
- Making use of fuel consumption apps to keep track of usage
- Cycling to work
- Driving an EV or hybrid car
- Using an E-Bike
Overall it can be seen that these 12 automotive trends of 2022 have affected the mechanisms of the automotive industry. Less cars are being produced for a myriad of reasons, new cars cost more, used cars are pricey, technology in cybersecurity and blockchain, AI is on the rise. EVs have taken the market by storm and many people choose green ways of life to protect the environment as seen in our automotive trends number 12 with vegan-friendly cars and alternative transport increasing. It’s good to keep abreast of automotive trends when buying a car as some include safety features you can look out for.
Do You Have Breakdown Coverage for Your Car?
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