It’s no secret that the auto manufacturing sector has a turbulent history (as many people living in small town American manufacturing cities can attest!). However, as we have covered in the past, American manufacturing still has many bright days ahead of it — and this bright future is going to be driven, in part, by continued success from our auto manufacturers. Here are a few of the most important developments set to impact the industry in the next decade.
- Importance of Small and Medium-Sized Businesses. Much of the turbulence in the US auto manufacturing industry had to do with the downsizing and outsourcing performed by the largest few manufacturers. Fortunately, small and medium-sized manufacturers are rising to the challenge, and they are expected to play an increasingly important role in the sector.
- Shared Mobility. Noncommercial ridesharing and ride-for-hire services such as Uber are triggering a huge increase in shared mobility, which could cause a small decline in sales, while also creating new demands for certain models.
- Autonomous Cars. Business Insider estimates that there will be roughly 10 million self-driving cars on the road by 2020. Once such technology becomes easier to produce and more popularly accepted, it is only a matter of time until the technology becomes mainstream. Some even predict that there could come a day when driving your own car in a metropolitan area is prohibited. Although that is unlikely to happen within the next decade, the explosion of autonomous cars appears inevitable.
- Electric Cars. Another technological advancement set to revolutionize the industry is the rise of green and electric cars. Consumer demand, government regulations, and the inevitability of oil prices returning to normalized rates all converge to support one prediction: electric cars are the future.
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