Trends in the automotive industry in 2022
The automotive industry has come a long way in recent years when it comes to adopting and developing new technologies—but what will the future hold? Here are some of our industry trend predictions for 2022.
The use of AI is increasing for every industry, but particularly when it comes to vehicles. From connected vehicle technology to in-vehicle virtual assistants and driverless cars, artificial intelligence is being integrated into the industry on all levels. Data from both vehicle production and sales can be used in predictive modeling to help inform production needs in real time.
Electric Vehicles/Smarter Cars
Companies like Tesla and Toyota are leading the way in the development of electric vehicles (EVs), proving them to be a viable option. As consumer demand for more environmentally friendly transportation evolves, we will see an increase in automotive brands offering more EVs as well as “smarter” cars. Given the higher price tag, some governments that want to see more people driving these cars are offering subsidies. In Norway, for example, subsidies and tax breaks make an EV virtually the same cost as a regular car. Seventy-four percent of new cars in Norway are EVs, compared to only 2% in the US.
E-Commerce Sales vs. Brick and Mortar
When we think about buying a car, we probably imagine going to a show room rather than shopping online. But as consumers become more accustomed to buying products and services online, especially during the pandemic, automotive companies are having to think more about their e-commerce offerings as well as their brick-and-mortar dealerships. Since the global automotive e-commerce market is projected to grow from $51.04 billion in 2021 to $202.94 billion by 2028, it’s becoming more important to localize e-commerce websites so that all markets can be reached.
Over recent years, a new trend has emerged: subscription-based vehicle ownership. Companies like Zipcar and Sixt+ now enable consumers to pick up vehicles when they require them. Car brands like Jaguar Land Rover and Volvo are tapping into the trend with their own subscription services, Pivotal and Care by Volvo. This option is particularly attractive to people who live in big cities who don’t own a car because parking is scarce and expensive. This model is not only convenient but also sustainable. More and more consumers are looking to reduce their impact on the environment, and sharing a car is a good way to do so.
If you would like help tapping into the trends that we’ve discussed on a global level, our automotive specialists can help with everything from owner manual translations to website localization and in-vehicle entertainment translation. Click here to get in touch with the team and kickstart your global strategy.