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Top Automotive Trends in 2019: A Year of Wows and Woes

Top Automotive Trends in 2019: A Year of Wows and Woes

Source: Forbes

It’s time for our annual exercise in trendspotting.

Last year we anticipated that global vehicle sales would be challenged and that was just what happened, with global passenger vehicle sales limping to a marginal increaseof just over 400,000 units in 2018. We had all our chips on the unstoppable rise of mobility services and, by year end, the top 5 ride-hailing companies—Uber, Lyft, DiDi, Grab and Go-Jek—were estimated to be worth over $230 billion. We also predicted that value added services in automotive retail would be huge. So, on the one hand, software technology companies made further inroads into the automotive industry through services like usage-based insurance, new finance and leasing services, and connected car services while, on the other, automotive companies kept their customers engaged and satisfied through expanded and enhanced after sales services and solutions.

A Year Of Wows And Woes

This year, I believe, will be a combination of wows and woes. Automotive technologies will be fresh, exciting and innovative but the uncertainties caused by Brexit, the United States-Mexico-Canada Agreement (USMCA) and China taking its foot off the growth accelerator will threaten to throw a spoke in the wheel. We’re likely to see the fall of an automotive giant, the (near) extinction of a car segment that has long defined the popular vision of the automotive industry, a windfall for the titans of new mobility, and much, much more technology-driven disruption.

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