2018 is here and there are so many predictions, claims, announcements, and unveilings already lined up throughout this year. But ever since the economic downturn almost a decade ago, the US auto market has been quite volatile. While the market hasn’t slowed down a great deal, US car manufacturers have indeed taken a hit around the wor. In 2017, GM, one of USA’s top car manufacturers pulled out of one of the largest automobile markets in the world – India. They also had to completely pull out of Venezuela because of the political crisis. While 2017 was a downturn, how are the prospects for the US market this year?
When we are looking at 2018, a lot history is going to affect the attitudes of people about the automotive industry however sales of vehicles does seem to be increasingly ever so slightly year after year. While 2016 17.5 million cars were sold inside the United States, 17.55 million cars were sold the past year. This trend is expected to continue. Having introduced you to the atmosphere of the automotive market this year, we can now examine the top 5 things to look forward to in the US auto market in 2018.
1.Craze over Electric cars will subside: The madness over mass market electric cars has been making headlines all year around. While the global percentage of electric cars is hardly 1%, there will be a significant increase in the number of the sales this year. But that isn’t new what should be considered here is that out of the 3 top electric cars sold in the US market, only two are capable of delivering the sales expectations. They would be Chevy Bolt, and Nissan Leaf. The surprise comes from the overbooked Tesla model 3. With over 400,000 pre orders, Tesla would be able to deliver only a disappointing 100,000 vehicles by the end of 2018. This would make people with the interest of buying electric cars weary.
2. Mobile Distraction will lead to more accidents: While technology is aimed at making driving safer and more enjoyable, car manufacturers have been mauled into submission by smart phone makers trying to incorporate mobile phones into cars. With unrestricted access to the internet, distractions while driving are bound to increase. The issue has already been addressed by several car manufacturers who have already limited what you could do with your built-in infotainment system. This year, we can expect the government to step in an install a cap on the usage of mobile phones in cars.
3. Oil! Oil is unpredictable. Even though we don’t see any see major spikes in fuel prices around the corner, the volatile situation in the Middle East continues to prevail. Any escalations and US involvement could change a lot about the fuel prices, and supply. This year however, we should consider the impact of technology in fields of electric vehicles, gas motors and probably even mobile application that facilitate increase ride sharing. This might boost an increase in SUVs and Pickup trucks and a bigger margin of profit for the automakers.
4. Increased Permeation of Technology: Many of the technologies especially safety features used in high end vehicles today will trickle down to the common market ones. When it comes to providing safety in life and death situations, technologies like automatic breaking, lane assist, and even air bags could be made affordable and even available to all cars. While the features get more common, it would also become cheaper which will allow manufacturers to make them available to everyone.
5. The Trump Factor: Regardless of your personal opinion of the man himself, the federal government he’s at the helm of is trying to bring numerous deregulations across various industries. This is in line with the President’s efforts to deregulate the US economy. The automobile industry is one of the most highly regulated industries in the country and it would definitely get the attention of the President’s administration. This might not be looking positive for environmental factors as the President has a different understanding of the term Global Warming.
Whatever the market trends are there’s one constant in the US used car market and that is AUTOBUY will be purchasing cars for the max price as always. Having expanded to 8 locations across Florida, AUTOBUY will continue to be the top rated car buying company in the country. If you are planning to sell your used car, you can always count on AUTOBUY to pay you the max!