Automotive industry trends and headlines from the past year

We thought 2021 would slow down, but the more things changed, the more they stayed the same in the auto industry. And there were even more surprises around each corner. So, let’s look at some trends and headlines from the past year.

The used car market takes center stage

Maybe it’s time we have a Used Car Auto Show. Even though new car sales are starting to make a comeback, dealers say their scarcity will continue through 2022. And consumers who bought vehicles in 2019 are not unhappy with the high value they have. But, unfortunately for dealers, auction prices continue to skyrocket. So, finding a used car to buy is a challenge for consumers.

Parts and chip shortages

There’s nothing like a good crisis to upset an un-diversified supply chain. And technology is great until the supplier either cuts back or experiences a problem. No one will argue that a lack of heated seats because of a chip crisis isn’t the end of the world but spreading the supply chain to include made in the USA wouldn’t be wrong. COVID has taught us many things, but the most significant observation we’ve noticed is the over-dependence our auto industry has on China.

OTA and subscription features

Toyota has announced that it’s offering a subscription for remote start for 2018 vehicles and later. Now that cars are becoming rolling extensions of a mobile device, it was only a matter of time that OEMs started their version of an Apple-type app store. Of course, vehicles mustn’t be de-contented to offer those same items back for a subscription. But, if we remember that BMW tried to charge people for Apple Carplay, we can only wonder what the new subscription plans will bring. And is it necessary to view our kids through the Wyze cameras a 00 on our digital dashboard? You know it’s going to happen.

Chip shortage expected to cost the auto industry $210 billion in revenue in 2021

CNBC said, “AlixPartners is now forecasting that 7.7 million units of production will be lost in 2021, up from 3.9 million in its May forecast.”

The biggest EV reveals of 2021 from Tesla, Ford, and more

Although it would be easy to point to Ford’s Lightning and Mach E as the most important EV’s of the year, as Mashable reports, there were more EVs revealed and produced this year than ever before. But will there be enough consumers to buy what’s available?

GM wants to overtake Tesla

Tesla may not be afraid since its following and market is different than the one singing the Mach E’s praises but good on GM for producing a good SUV. Mary Barra said, “GM’s vision of a world with zero crashes, zero emissions, and zero congestion has placed us ahead of much of the competition in electrification, software-enabled services, and autonomy. Our early investments in these growth trends have transformed GM from automaker to platform innovator, with customers at the center. GM will use its hardware and software platforms to innovate and improve their daily experience, leading everybody on the journey to an all-electric future.”

Automotive trends and headlines in 2022

Today’s headlines and trends show that innovation isn’t a dead art. We can’t wait to see what shows up in 2022. So, tighten up your seatbelts since it may be another wild ride.

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