The automotive industry is rapidly evolving. Features and technology that were once a distant dream have become a reality. Niche products like electric vehicles (EVs) have become commonplace. Brands most people once ignored have picked up, with prices shooting up while new brands have broken into the automotive industry. If you love cars, the car trends to expect in 2024 are something to be excited about. And “the future” is not too distant; it’s as close as next year.
Here are four major car trends to expect in 2024;
1. Higher car prices
Yes, car prices will shoot up next year and beyond. Some experts estimate that new car models may become much more scarce in 2024, which means an expected greater demand than supply. Per the basic law of demand and supply, an increase in demand leads to increased prices. So, there is a higher probability that car prices will go up in 2024. Therefore, if you plan to purchase your new car next year, it’s prudent to start doubling your savings.
2. Electric Vehicles will dominate the industry
EVs have steadily gained popularity over the years, but they’re set to dominate in 2024 and beyond. One major reason behind the expected trend is climate change. Today, governments worldwide are pushing policies forcing car manufacturers to produce more EVs and fewer traditional vehicles.
For example, the government expects car manufacturers to sell 22% all-electric cars from 2024, with the figure projected to increase to 52% in 2028 and 80% in 2030 until a 100% all-electric target is achieved. Several companies are answering this call, with new EV brands like VinFast making their first models.
3. Expanded subscription plans
If you’re old enough, you probably remember the days when you got all the car features advertised by default. Unfortunately, subscription plans have taken over on features like heating seats and even steering wheels. Even though every car enthusiast pointed accusing fingers at BMW for this unpopular subscription idea, other auto manufacturers have quickly jumped on it and put similar plans into full effect. The car trends to expect in 2024, You can expect these much-disliked subscription plans to expand to include many other car features, from seat massagers and hands-free driver assists to cruise-mode features. The argument is that such plans make the manufacturing process less expensive.
4. A phasing out of internal combustion engines
Few sports car enthusiasts can resist the roaring sounds of diesel or gasoline engines. But here’s some bad news. You’ll only hear those beautiful roars for a few more years while traditional engines still last. Thanks (or no thanks) to the expected EV dominance, internal combustion engines will soon phase out. Of course, you’ll still have those sleek and exotic sports car designs, but they’ll sound nowhere near what you’re so used to hearing and loving. Look at the brighter side of this car trends to expect in 2024, though.
It’s all about saving the planet and ending the dangers of climate change. Plus, electric car motors will make some noise. That should be some small consolation, although their dull whine will be significantly quieter than the roar of an engine.