The ever-evolving automotive industry constantly has something new coming up. These changes are, of course, the results of intensive research and development. The developments in the automotive sector are in response to the requirement and needs of the current age. So what are the developments currently ruling the automotive industry? Let’s drive you through!
This technology has ventured successfully into all sectors, and the automotive industry is no behind. The automotive industry was quick to research and understand how 3D printing could be integrated into the sector seamlessly to increase efficiency. And yes, they have done it quite effectively! 3Dprinting has brought a change in the way cars will be designs in the future. The introduction of 3D printing in the automotive sector will drastically reduce the amount spent on repairs caused due to accidents and impacts.
Who needs to take the effort to drive and be high on alert while driving when you can easily have a driverless car do it for you?! Almost all the leading names in the automotive sector have their versions of driverless cars all set and ready. Though these haven’t hit the streets as yet, they are being test driven all over the world. Whether or not the world, the roads, the infrastructure – is ready for these autonomous cars or not is something that only time will tell. So let’s wait and watch how this innovative and exciting trend takes on!
Another trend that is now fast catching up with the world is the electric car! Cost-effective and environmentally friendly, these cars are winning hearts across the world and are finding ample takers too. People seem to be intrigued by this concept, thus making it all the more popular. Many countries are encouraging their citizens to switch over to electric cars in the urge to control pollution levels by reduced fuel emissions. Few have even started programs to ensure the entire country turns to electric vehicles. The immense benefits these cars come up with have guaranteed them a bright future!
No, Blockchain is no longer limited to cryptocurrencies only – it has spread far and wide, and the automotive industry has caught the ‘blockchain wave’ too! The Blockchain technology is being optimally used by the automotive sector to effectively deal with the issue of fake parts being sold across the world by fake dealers. The Blockchain technology effectively manages to keep the authenticity of both brands and sellers intact.
Here are the top companies in the automobile industry of the year 2018 that shows innovation like no other:
BMW is a German auto giant and one of the most successful luxury car manufactured in the world. In the year 2017, the company has recorded a worldwide sale of 2.9 million automobiles that is 4,2 percent from the year 2016. As of now, the company’s stock is suffering from a similar trend among the competitors and brought down the market cap by 16 percent. BMW started with the electric car by launching the hybrid i3 and i8 models in the year 2014.
Volkswagen has sold more than 10.7 million vehicles in the year 2017 and has increased by 4.3 percent from the previous year 2016. It was a meaningful turnaround for the company as the company’s reputation went down after been caught for cheating on emission tests by the U.S. Environmental Protection Agency in the year 2008. Even though the company went through a huge loss, they shares went up to 25 percent shares in the year 2018.
Daimler is the current owner of the luxury brand Mercedes-Benz and also the largest Greman automaker. The company sold more than 3.3 million automobiles worldwide last year. Same like the other luxury automakers, the company’s market cap is falling for the past three years. Tesla may be in the lead by introducing driver-less car technology, but the Mercedes-Benz S-Class still holds the first position to feature hand-off technology.
4. Honda Motor Co.-
Honda is famous for many popular brands like Accord, Civic, and Crv. Even though after selling a record 5.02 million automobiles in the year 2017, according to Honda’s marketing cap, Statista was up by 1.8 percent in the three years. It may be because the investors are concerned that Honda will be late to the competition to changes in the industry. The BI intelligence projected more than 30 million driverless cars in the year 2020, but the company is targeting to bring its first driverless car in the year 2025.
5. Toyota Motor Corp-
Toyota is the largest auto company in the world with more than 200 billion market cap which is about four times the size of Tesla. The company is not immune to the overall weakness surrounding it in its legacy of auto stocks with an increase of percent seen in the past three years. Even though the Prius model was the top-selling hybrid model ever released in automobile history, the company has fallen behind all the market leaders in the electric car technology. At the end of the year 2016, the company appointed its new CEO Akio Toyoda to lead the new electric car division to bring it back into the market.