The new year is here and if you thought we’d be inching closer to something that looks like the 2019 automotive industry, think again! Prices continue to climb as minimalist EV’s continue to rule the road….and the “off-road.” The future is now. It’s sleek, modern and available for online purchase. Here are the top five automotive trends we expect to see in 2023.
Unfortunately, the semiconductor chip issue has proven to be more of an issue than originally anticipated. In addition to this, supply chain issues continue to plague the auto industry in the wake of the COVID-19 pandemic. Between these ongoing issues and a year that has seen record inflation, the cost of parts is driving up vehicle prices in 2023.
Continued Trend Towards EV’s
Every year, we see more and more electric vehicles on the rise. In 2022, more automakers committed to electric vehicles and doubled down with timelines and metrics they plan to hit. This year, expect to see more of the same. As charging stations expand to more of middle America, you will see more EV’s on the road.
A trend towards off-road vehicles began during the pandemic when most acceptable social activities began to take place outdoors. People chose hiking and camping over hotels and large gatherings. This has resulted in increased sales of vehicles like Jeeps, the Ford Bronco, Toyota Tacoma and Land Rovers. Over the past few years we have also seen brands like Kia roll out SUV’s that look like they are built for rugged mountain terrain to try and capitalize on this booming market trend. We will continue to see this in 2023.
Car companies are now taking a minimalist approach to vehicles. While screens are growing larger to help with digital navigation, consumers prefer less bells and whistles when navigating their dashboard. This is a far cry from the early 2000’s when the industry was taking a “more is better” approach to vehicle electronics. Brightly colored wraps and flashy exteriors are now being replaced with neutral color pallets and less exterior noise. Simple features like door handles are no longer the standard, as automakers are leaving them behind in favor of sleeker more modern designs.
Purchasing Cars Online
As a society, we have been making the majority of our purchases online for some time now. The automotive industry is finally following suit with this trend. Like many trends in the post-2020 era, COVID-19 helped to increase online car sales through new platforms like Carvana, Shift and Vroom. In an industry that saw just 4.2% of sales online pre-pandemic, the first six months of 2020 saw a 36% increase in online car sales. Expect this trend to continue to grow in 2023.