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What’s Next for the Automotive Industry?

by Mary Rooney | Mar 02, 2021

Article from Automotive World

The next decade could be one of the biggest yet for the auto industry. 2020 gave automakers the opportunity to reposition themselves as they emerge from the crisis on a new path towards electrification and connectivity.

2021 will see a continuation of trends that have been bubbling even before COVID. From ramping up EV investment to digital playing an ever-increasing role in the vehicle purchase journey, sustainability and customer experience will be the standout priorities for automakers this year.

The Electric Revolution

  • With lofty global zero emissions goals, it will be the decade of the EV.
  • Major OEMs begin or increase marketing EVs across their vehicle line-up, scaling and recalibrating their business models. 
  • The EV startup market will have a focus on delivery vans and buses.

Digital Experience

  • With consumer buying behaviors shifting, improved customer service experience will be critical.
  • Online sales tools will improve and become embedded in the process, leveraging data to make the customer’s buying experience faster and smarter.
  • Automakers will focus on accelerating connectivity and voice-activated capabilities to improve the in-car, shopping and service experience. 

Self-Driving and Autonomous Vehicles

  • Self-driving and autonomous vehicles will likely continue to be a hot topic of conversation and much experimentation.
  • While the immediate need for post-pandemic recovery is the creation of jobs and solid cash flow, there will be a focus on what OEMs can bring to fruition at scale in the next 18 months - EVs are that opportunity.
  • In the interim, big tech giants will continue to work on autonomous vehicles and partner with automakers to bring these to a reality in the near(ish) future. 

Connectivity

  • A big focus for automakers this year, connected vehicles featuring a more robust experience are in demand by consumers. Expectations for vehicles pre-fitted with connected tech is now mainstream, including  at least one connected feature, with cameras and navigation as top features.  


Streamlining

  • Moving past a difficult year, automakers will need to optimize, reducing the numbers of derivatives that are not profitable while increasing the speed of change to make a difference. 

To read further into 2021 automotive industry trends, view this recent article from Automotive World.

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