When it comes to cars there is always a debate as to which models will someday become considered classics, however here at QuoteSearcher we are also interested in what is in store for cars in the future. As the motor trade industry is constantly changing it’s not easy to predict what the future will hold, however there are some signs that can point us in the right direction. Here, we look at some of the more likely changes we expect to see for motor vehicles in the future:
One of the most obvious ways that cars will change in the future is that they will start to include even more technology. Car manufacturers are already fitting new models with on board computers complete with digital radios, GPS systems, Bluetooth and more, and we expect that this will continue over the next few years. In fact, consulting firm Deloitte LLP recently published figures showing that those considered to be in ‘Generation Y’ (typically between nineteen and thirty six years old) are more likely to buy a car that comes equipped with new technology.
The technology in question includes that which reduces emissions, ultimately making it cheaper to run a vehicle as there is less dependence on fuel. However, half of those surveyed also said that it is important for a vehicle to include technology which entertains them while they drive and is able to be integrated with their mobile devices.
It’s not just Generation Y that are becoming more inclined to buy eco-friendly vehicles, in fact electric and hybrid vehicles are becoming popular worldwide. The UK government has already spent a number of years offering incentives in order to encourage people to invest in low emission vehicles, however it seems that for many the increasing cost of petrol is incentive enough.
Another reason why eco-friendly vehicles are becoming more popular is that the technology is improving in leaps and bounds. When first released people were wary of hybrid and electric cars as they weren’t sure they would be reliable enough or that the benefits would outweigh the costs. However, new technology means that the cost of eco-friendly cars is decreasing, helping the popularity of hybrid cars to increase in the future.
Along with fuel, car owners often lament the fact that car insurance is so expensive, which means that when thinking of investing in a new vehicle most people check the cost of premiums first. Young and inexperienced drivers particularly struggle when it comes to finding affordable car insurance, which is why many providers are now offering telematics policies.
Telematics, or ‘black boxes’, are installed in vehicles and monitor drivers’ behaviour while on the road. If the driver is careful behind the wheel, car insurance providers will see that they are less of a risk to insure and are therefore likely to reduce their premiums. However, if a driver is found to regularly break the speed limit, brake too quickly or turn corners too sharply providers can increase their premiums as they pose more of a risk.
Using telematics means that car insurance providers are able to adapt their premiums on a more regular basis, ultimately rewarding those that are less of a risk and giving drivers an incentive to be more responsible on the road.
Motor Traders and the Future
With cars becoming increasingly advanced motor traders will soon need to start learning about all the new technology available. Car and motor trade shows are a great way to gain a wide range of information in a short period of time, especially as most manufacturers display their prototypes at these events before they hit the market.
Products such as motor trade insurance will also need to adapt in the future in order to cover all the new technology on the market. Motor traders should also take note of the fact that most people looking to invest in new vehicles will want a model that is cheap to run yet is reliable enough to last them a number of years. This means it’s likely vehicles in the future will be quite pricey but worth the cost in the long term, so make sure your company offers finance packages or other payment plans.