With car manufacturers such as General Motors, owner of Chevrolet and Cadillac, producing nearly 10 million cars and trucks in a given year, the auto market is inundated with choices. From vehicles made for speed to those equipped with night vision technology, there isn’t much consumers can’t find in today’s new and used car market. What’s all the rage this year? Read about these six hot trends in the automotive industry to find out. Who knows, you may discover your next great ride in the process.
- Faster is (still) better
Now that gas prices have eased, with the national average coming in at just over $2 per gallon, fuel efficiency is taking a back seat to performance. High-performance sports cars like the 2016 Cadillac CTS-V Sedan with its supercharged 6.2 liter, V8 engine and whopping 8 speed automatic transmission are likely to take the market by storm.
- Going green is still going strong
Even if we’re anticipating a new trend towards performance in auto sales, car dealers and consumers alike haven’t forgotten the environment depends on us. Hybrids are expected to continue their popularity. From the ELR Coupe that debuted as part of the 2016 Cadillac lineup which boasts the best of both worlds: performance and sustainability, to the all electric 2017 Chevy Bolt EV that is advertised with an estimated 200 mile range per charge, hybrids and electric vehicles are going nowhere fast.
- Lower used-car prices
What is going down, however, is used car prices. Whereas the average used car dealership used to charge over $16,000 for a used vehicle in 2014, the average used car for sale today goes for just under $15,000. Perhaps this is why the average car on the road today has over 11 years of driving time under its belt.
- Truck versus truck
One area of the auto market that’s never seen tougher competition is that for new trucks. Automakers are facing off with their new and improved pickup truck lineup, vying to be king of the truck hill in both performance and fuel economy. It’s rugged, dependable full-size pickups like teh Chevy Silverado 1500 versus luxury pickups like the Cadillac Escalade. Who will win? Only consumers and time will tell.
- It’s a car! It’s a SUV! It’s a Car-based SUV!
While the trucks are battling it out for supremacy, those consumers more interested in sports utilities will have their hearts desire in choice of compact, car-based SUVs. You’ve got the Chevrolet 2016 Trax and 2016 Equinox alongisde the Cadillac SRX Crossover, to name just a few. These smaller crossovers that offer the flexibility of a car that’s also an SUV are likely to appeal to the young, urban explorers out there. They’re sporty and compact and oh so cute.
- What’s a car without in-car technology?
No matter how cute the exterior of a new vehicle may be, it’s not likely to attract much attention without the requisite gadgets inside. Gen Y consumers made up 27.7% of new car and truck sales in 2015 and proved their willingness to pay a pretty premium for technology by spending an average of $3,703 more for the tech they wanted. According to a J.D. Power 2015 U.S. Tech Choice Study, for 40% of drivers, that most preferred technology was blind spot detection and prevention. Cadillac rose to the challenge with its Side Blind Zone Alert that’s now standard in all SRX models. Great for those treacherous lane changes, Side Blind Zone Alert illuminates a light in your side mirror if a vehicle is in your path before you make your move. It also alters you to any vehicles approaching your blind spot at high speeds.
The second most popular new car technology: enhanced night vision. Preferred by 33% of consumers, enhanced night vision can give drivers an infrared image of the area beyond the headlamps. It’s like night vision goggles for your car. Can you see me now? Yes, yes we can.
From eyes that look out for you to electric engines that can roll through 200 miles without needing a charge, the automotive industry is continuing its tradition of innovation. Watch out for these and more cool new trends to come – you’ll never cease to be amazed.