Rising inventory levels and consumer demand lead auto industry experts to believe that over 14 million new cars will be sold in 2023. This is a 7% increase from the estimate of sales in 2022.
Car technology is only getting better, so drivers are wired to want the next best thing. But, what exactly is the next best thing?
Keep reading to learn about car technology trends to expect in 2023.
The Rise of Electric Vehicles
Electric vehicles (EVs) have been around for a while now, but the idea continues to gain momentum in the automobile industry.
Car technology like this is popular for a lot of reasons, but it is expected to rise further in 2023 because of the rising prices of fuel.
Multiple automakers are planning to launch electric vehicles if they haven’t already. It’s possible that in the upcoming years, electric vehicles will make up a significant portion of new car sales.
Electric vehicles require less maintenance because the motor and battery have fewer moving parts. EV drivers might be able to save money in the long run after their initial car purchase.
Digital Sales
Auto tech has advanced so much that it’s easier than ever for consumers to purchase vehicles online. Dealerships and other vehicle sellers are utilizing virtual showrooms to sell products.
Virtual showrooms were a thing before the pandemic, but the need for them rose when everyone was quarantined. Post-pandemic, consumers are still preferring to shop online, even when it comes to cars.
Virtual showrooms make sales easier for automakers and eliminate some of the overhead costs. This allows them to offer competitive prices and deals for their customers.
Online purchasing also includes online documentation, virtual car tours, and payments directly through secure channels.
Pre-Owned Vehicle Sales
There has been a rise in the sale of used vehicles, but what does this have to do with car technology?
Since car tech has been advancing for some time, there are pre-owned electric and hybrid vehicles on the market. These cars come with the latest technologies at a significantly lower price.
The rise in pre-owned vehicle sales may also be attributed to the pandemic and inflation, which both forced consumers to save more money.
Buying used can save consumers a lot of dough throughout the lifetime of the vehicle. Not only do you save with the initial investment, but you’ll save on maintenance and repairs.
For example, when you shop used Jeep parts, you pay less than you would for new parts.
These sales have allowed dealerships to create inventories dedicated to keeping pre-owned cars and maintaining them.
Car Technology Trends to Look Forward To
There are many car technology trends that consumers and even automobile sellers can look forward to in 2023.
The rise of electric vehicles has been going on for some time, but there’s a chance that EVs will be the main automobile purchases in the future. This leads to more pre-owned electric and hybrid vehicle sales as well.
Lastly, dealerships are going to continue promoting digital sales to keep up with the times.
For more informative articles like this, check out the rest of our blog.
