The automobile industry has seen significant changes over the past few decades. The rise of electric cars, self-driving technology, and ride-sharing have all changed how people get around and how we make money doing it. Today’s automotive industry leaders can adapt quickly to change and are willing to experiment with new business models to stay on top in 2022. These trends will only continue to develop over the next few years; here’s how we predict the industry will look in 2022 based on what we’ve seen so far.
Also Read: 7 Ways to Improve Your Business Finances in 2022
This Is How The Automotive Industry Is Shifting Gears In 2022
1. The Rise Of Electric Vehicles – Automotive Industry
The automotive industry has undergone a drastic shift over the past several decades, with new innovations and technologies leading to dramatic changes in what we drive. This trend is continuing as a number of manufacturers are switching to electric vehicles, which offer cleaner running, lower maintenance costs, and less on-street noise. Electric cars are also easier to recharge or refuel than gasoline or diesel-powered vehicles. The introduction of hybrid cars meant that gas engines could be used as generators to charge batteries when they were not needed for propulsion.
2. Blockchain Brings Transparency To Car Buying and Selling
One of the biggest benefits of Blockchain technology is transparency. The decentralization and immutable nature of blockchain make it difficult to tamper with the information stored on it, and because all transactions are public, it’s easy to confirm that they’re legitimate. With Blockchain technology, car buyers have access to more information about their purchases than ever before. They can see where every part came from, who assembled it, and when they did so. Blockchain also creates a permanent history of a vehicle’s ownership.
3. Google, Apple, & Tesla Take Over? – Automotive Industry
Google, Apple, and Tesla are all three making big moves into the automotive industry. Google with their self-driving car technology while Apple and Tesla have both come out with electric cars. These companies will not only continue to compete against each other but also against traditional car manufacturers like Ford, GM, and Honda. In 2022 these companies will take over an estimated 11% of the global market share for new car sales.
4. The Transition From ICE Vehicles To Auto-Pilot Cars
Cars will be completely autonomous and electric by 2022. This change will happen because of technological advancements and because electric cars are quickly becoming cheaper than gas-powered vehicles. BMW, Audi, Mercedes-Benz, General Motors, Toyota Motor Corporation, and Ford Motor Company are just some of the many companies that have made plans to bring fully driverless cars to market by 2025.
5. Adaptive Driving Technologies – Automotive Industry
The future of driving is now being shaped by automotive technology that can change how we use cars. Adaptive Driving Technologies are making roads safer and reducing congestion through innovations such as self-driving vehicles, electric and hybrid cars, connected vehicle systems, autonomous vehicles, and more.
6. The Biggest Changes Happen At A Local Level
Many significant changes to the automotive industry are happening at a local level and not on an international level. For example, ride-sharing apps like Uber or Lyft have made it easier for people to ditch their cars and rely solely on these services. But, there are still many changes that will happen at a national and international level as well. For instance, China has announced plans to ban gas-powered vehicles by 2030 which will make huge waves on an international level.
The automotive industry has seen a drastic change over the past decade with more people than ever before buying or leasing new cars. It’s not just drivers who are benefiting from this shift, however: car dealerships are also seeing an uptick in business. In the next five years, it’s predicted that nearly 7.5 lakhs of additional jobs will be created by the auto industry as a result of increased sales and construction.
