Apr 29/21

From Design to Manufacturing: What We Can Expect From the Car Industry

 

A new year means new beginnings.

In the car industry, it means unveiling eye-catching designs and advanced technology that set one manufacturer apart from the next.

As innovation expands and consumer demand for faster, sleeker, more eco-friendly vehicles continues, the car industry struggles to keep up.

There are big changes on the horizon for the automotive industry in 2021. Keep reading to discover what these important developments are and how they’ll impact the manufacturing industry.

Autonomous Vehicles

The car industry has jumped leaps and bounds from the days of cruise control. Self-driving cars are the wave of the future, with some companies already cranking out autonomous vehicles.

So, what’s stopping other companies from following suit?

Lack of technology isn’t what’s keeping these vehicles off the roads.

The biggest issue facing car companies is insurance and culpability. When you take control away from the driver and tragedy strikes, who’s to blame? And even more importantly, who’s responsible for paying the damages?

Some experts predict the world will see designated roadways designed specifically for autonomous vehicles to ensure safety and level the playing field.

Vehicles that Fit Specific Consumer Needs

Several decades ago, car manufacturers only produced a handful of models including mid-sized cars and SUVs. These basic cars accommodated most people’s needs.

Over the years, those needs changed and manufacturers had to adjust their approach to design and engineering. Today, luxury car brands like Jaguar and Lamborghini have some of the best-selling SUVs in their class.

Going into 2021 and beyond, the automotive industry will start producing even more niche models. Case in point: hybrids and crossovers which hit the scene just a decade ago.

Customer need is driving the car industry in 2021. Manufacturers will shift from producing only a handful of cars that fit everyones’ needs to specific-use vehicles.

This diversity isn’t new, but it will continue to expand in the coming year.

Stiffer Competition

As big-tech names like Google and Apple start dabbling in the car industry, manufacturers will face stiff competition.

Even with little to no experience in automotive development, these big wig companies have the ability to collaborate or hire experts in the industry.

While this may seem like bad news for car manufacturers, there is a silver lining.

Companies like Google and Apple will need collaborations in order to succeed. While they have the money to finance their investments, these tech companies don’t have the know-how.

2021 will see an exchange of financial backing and resources for valuable insight and expertise.

Electric Cars

This car industry trend shouldn’t come as a surprise. As the world shifts toward more eco-friendly ways of doing just about everything, the auto industry isn’t far behind.

From Jaguar and Audi to Porche, even luxury car brands are starting to produce fully electric vehicles (EVs).

As advantageous as it is, saving the planet isn’t the only driving force behind this shift. Manufacturing EVs is much cheaper than their gas-powered counterparts.

Not only that, but it takes approximately 30% fewer hours of labor to assemble, substantially reducing the bottom line.

Watch Out for These Car Industry Trends in 2021

As you turn the calendar, the car industry is turning the page on several industry trends and developments.

Fully autonomous vehicles are on the horizon, as are fully electric cars, and big-name collaborations.

Mayco Manufacturing is dedicated to staying abreast of cutting-edge technology and trends to ensure you get the quality products you need when you need them.

Contact us today and stay relevant and compliant as the automotive industry shifts and changes with the times.

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