A Picture of the Auto Industry in 2030

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auto industry

If you’re going to stay relevant in the auto industry, you have to think into the future. It is key to constantly be looking at trends to gain insights into how you should approach various aspects of your car dealership – so what’s going on now that will impact you in 2030?

1. An Electric Future
What was once a struggling niche market has become more mainstream. Emission regulations are stricter, forcing the hand of manufacturers to produce more environmentally friendly cars. However, battery costs are dropping and the infrastructure to support charging batteries has expanded.

By some estimates, the number of electric vehicles on the road in 2030 could be as high as 50 percent of the new vehicle share. However, the highest rates will be seen in cities with the strictest emission regulations.

2. Consumer Mobility
We’ve watched this evolve for years, but we continue to see consumers’ mobility behavior go to new levels. In fact, it’s possible that 10 percent of all cars sold in 2030 will be used for ride-sharing.

People today are using a variety of transportation modes, from public transport to ride- sharing services such as Lyft, Uber, Car2Go and ReachNow. The former two reflect a trend in that people age 16 to 24 are less interested in getting their driver’s licenses. The percentage of people in that age group with a license dropped five percentage points from 2000 to 2013.

3. Self-Driving Satisfaction
Thanks to improved technology and an easing of regulations; it’s possible that by 2030, up to 15 percent of new cars will be fully autonomous. We’re already seeing a huge boost in the number of advanced driver-assistance systems in the market now, and it’s something more and more consumers will demand from automakers.

There are still a number of hurdles, via regulations and technology, which manufacturers have to jump over, but it’s pretty much a forgone conclusion that the future is firmly planted for an influx of self-driving cars.

4. Car Type Depends on Density
If you’ve ever been to a bustling, crowded city like Shanghai or New York City, you know how starkly different the traffic and types of automobiles are from places like rural communities. By 2030, we’ll stop looking at which direction specific regions or countries are going in terms of the auto industry – we’ll be looking at segmentation on a city-to-city basis.

The density of geographic areas will drive consumer preference as the policies there will be far different from communities in the Midwest or other rural areas where the population is far less in terms of numbers and far greater regarding land mass.

What trends are you seeing in your city?

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