In 2021, the auto industry is predicted to experience a transformation in how people get from one place to another. With four different challenges posed by these pillars (awareness, affordability/availability of fuel sources; driverless technologies that can save lives when accidents happen on our roads).
The financial pressure has been further heightened because COVID-19 has led some carmakers to prioritize areas with quicker paybacks like electrification and connected cars as they go through their phased transformations over time.
The automotive sector was already struggling before this happened but now it’s even more challenging due to what is known as “blocking factors” or things preventing any real progress from being made towards solving those problems at hand.
Intensified mergers and acquisitions
There is a lot of pressure on the automotive industry right now and it will take some time before we can see any recovery. This additional stress may lead many companies into bankruptcy, especially those that haven’t been quick enough with their transitions or digitally transforming themselves for this new era where more focus needs to be put onto electrification strategies to stay competitive against other manufacturers such as Tesla who rely solely upon battery-powered cars instead of internal combustion engines like traditional automakers do today.
Growth of EV
It’s predicted that by 2021, the European electric vehicle market will be booming. The COVID-19 pandemic has done nothing to slow this growth—instead, it helped boost interest in Europe because of its stringent carbon dioxide legislation imposed by 2020 which forces carmakers who want their products sold there to have lower emissions levels than before.
With these new fuel standards coming into effect soon and China reducing incentives on New Energy Vehicle sales by 20%, we could very well see even more advancements made within our industry!
US car companies are already booming, and there’s no sign that the trend will slow down. As EV sales rise in America with new regulations coming out soon to boost their popularity even further, it is likely we’ll see a faster growth rate than ever before-and more of these cars on our roads by 2020! With Biden at the helm as vice president under the Trump administration who seems sympathetic towards electric vehicles (EVs), things can only get better for those looking into buying one or converting an old model today.
Realization of EV start-ups and open platforms
The recent success of Tesla has inspired many other entrepreneurs to take up the reins. These new EV start-ups are already here and have shown their products, but 2021 will mark Fisker’s first production run for its electric car line that was once plagued by financial problems not so long ago.
Other hopeful companies like Xpeng or Nio facing headwinds before now seem poised for growth after seeing sales increase recently – it is undeniable proof they’re on track towards greatness!
In 2019, Volkswagen announced that its MEB electric platform would be available for other companies on an open-source model. However, in 2020 Foxconn and Geely put out their EV platforms to make it easy for new start-up car designers by giving them pre-built parts from a few every design decision you make when building your custom vehicle!
L3 on the road, L4 in the hands of tech
The new UN regulation on automated lane-keeping systems is finally giving carmakers the regulatory clarity they need to move forward with L3 autonomy. This will see Daimler, Ford, and GM begin rolling out self-driving capability in 2021 while Honda has said that their plans do not change despite increasing demand from customers for this technology; Toyota, too, says it remains committed to creating safer roads through advanced sensor tech like radar sensors or camera night vision capabilities (alongside efforts made previously).
With L4 autonomy, we can finally start thinking about a future where automation has eliminated the need for human drivers. However, this is not something that will happen soon as Waymo’s robotaxi service in just one part of Phoenix’s metro area and no other company offering regular services beyond trials using shadow drivers or teleoperation; consequently making full use of safety needs at least until 2020 before it becomes reliable enough for main cities across the world which Herculean undertaking will take a decade – maybe even two!
This daunting prospect added financial pressure triggered by pandemic forced carmakers to rely much more on technology companies to achieve the long-term goal: fully driverless cars by 2030.
Micromobility
The COVID-19 pandemic may be one reason people are turning away from public transport and towards more environmentally friendly modes of transportation, like bicycles. There has been an increase in demand for shared e-bike rental opportunities across major cities as well; this could help companies who offer their services post-infection because new users will keep coming out the woodwork!
High-value services by Connected Cars
In a world where consumers can buy almost anything online and have it delivered to their door, the idea of paying for traditional car services is no longer as appealing. This is because there are so many alternatives available through internet-connected devices such as navigation systems or infotainment streaming platforms that provide customers with more than just what they would need from any single vehicle’s feature set alone.
Some automobile makers have already started transitioning into providing these types of services to convince people not only how valuable it will be but also due to its convenience – especially since Tesla has proven successful at this transition thus far!
Retail and after-sales revolution
The automotive industry was once the preserve only of large carmakers, but this is no longer true. As online sales became more popular with customers and dealership closures began to have an impact on businesses across America, many other manufacturers took notice – including Daimler who announced in 2017 that they would be selling up towards 50% percent or all their vehicles through its website by 2025!
In 2020, the electric car will be a thing of the past. In 2021, premium carmakers led by Tesla are beginning to see this new reality as they transition from regular servicing intervals that were once required for an internal combustion engine vehicle (ICE).
As competition follows suit and companies look into ways on how best to adapt or die—electric vehicles have already taken off with sales surpassing gas-powered ones in Europe alone! This leaves many legacy dealerships without customers who had been purchasing pricey maintenance services such as buybacks so far out from purchase date which left them high-and-dry until now when these same brands announce plans about going green while cutting costs through redefinition processes aimed at traditional retailers