The automobile industry has always been one of the largest profit-making industries. Since the invention of the motor vehicle in the 18th century, it is a sign of luxury. As per the time & age, engineers include new technologies for making it more comfortable for owners & passengers.
The covid-19 pandemic had left no industry in the world. It shut down each one completely or partially and affected the production, sales, and jobs. In the year 2020, the United States of America saw a 19% drop in the production of cars. 3% of America’s total GDP comes from the automobile industry.
Effect of Covid-19 on the automobile industry:
As the first wave hit the world like every other, the automobile industry fell too. All over the world, public transportation stopped in a day. Lakhs of people lost their jobs and a crisis-like situation occurred. The US market analysis says that this industry witnessed a drop of 19% in its production, a 30% drop in car sales, and a 23% drop in passenger car sales.
But, this industry got a high jump soon after the first wave. That was the only reason for this. Now common people want a safer journey in the world. We don’t want to get affected by any alien viruses that are dangerous to our health.
Future Trends of the Automobile Industry:
The automobile Industry used horses, coals, and then different fuels in the last 200 years. Now we are looking forward to automation and electrification. We are living in the digital era and no doubt, covid-19 has pushed us to go to its extremes.
The future of this industry is now focusing on less harm to the environment and automation of vehicles. More electrification, connectivity, internet networks, artificial intelligence, and smooth driving with no emission are the needs of the hour.
The decade 2021-2030 will witness a rise in electrical vehicles and autonomous vehicles. Driverless cars with artificial intelligence will make road trips relatively safer. These vehicles are on their way to reducing the use of fuel cars. Companies are sure that in recent years, each one of us will prefer EVs over traditional cars.
Electrical Vehicles and Future of Automobile Industry:
The automobile industry is preparing for an electric vehicle era of cars. Big companies like Tesla are establishing their plants and manufacturing units in different places. Western countries have already started using those. Countries like India are also focusing on their plans for EVs.
Hyundai announced a facility located in Georgia that will produce 300,000 electric vehicles each year. VW and Seat made a deal of 10 billion euros for the up-gradation of production facilities. The change in the automobile industry is real. They are hundred percent sure that you will be the one buying an EV in the near future.
The future is also focusing on no emission. While electric vehicles are an ideal solution to this, engineers are trying to develop tools with which we can reduce the emission from private and public vehicles.
They are also focusing on making stylish designs for future cars. For better finishing, they are using polymer coating solutions. Polymer coatings are used by automakers in door hinges, convertible roof mechanisms, steering, and seating systems to meet stringent cleanliness requirements and to reduce friction.
Our world is changing and this automobile industry is proudly adapting to it. Electric and autonomous vehicles are the future. And we all should be ready for it.