What Can We Expect From the Car Market in 2013

The automotive industry is constantly changing, and the cars of tomorrow will very quickly be replaced by the cars of the next day, and so on. With new models always in the pipeline, motor fans wait with bated breath  in the run up to the New Year when they get to see the release of some of the most anticipated ‘hot new things’. Here are some things we can expect to from the automotive industry in the next 12 months.

Slowing down
Despite the UK’s ambitious plans to produce over 2 million cars a year by 2016, the global car industry may be facing a slight downturn throughout 2013. According to Moody’s investors, this is largely due to a slow European demand and less-than-amazing sales in the Far East. Whereas Europe predicted a 3 per cent growth in 2013, it is now thought that it will actually reduce by 3 per cent. The slow growth of the European and Asian markets has a knock-on effect that will impact on production and profitability in the US. What this means for the consumer is a more limited selection of new cars from which to choose, though this doesn’t seem to be stopping the ambitious new designs from manufacturers.

Car Market 2013

Does anyone remember Smart’s very brief foray into the 4-door market back in 2004? Not many people do. It had a limited run for a few years in Europe and was met with even more limited success. Time seems to be a great healer since Smart are attempting to re-launch the “ForFour” in 2013 under the moniker “ForTwo+2” (no prizes for originality in the naming department). Smart are hoping for a larger financial success in the US after a perceived customer demand.

Car Market

Green features
Volkswagen are giving their much loved Golf a complete overhaul for 2013. VW’s overriding goal with their new Golf is to try and knock Toyota of the top spot as the world’s best-selling car manufacturer. If you’re going up against an automotive giant who’s best trick is the hybrid car, how do you compete? You go green yourself. The Golf Mark VII is said to be available as a petrol/hybrid model as well as a plug-in electric. Not only that, but the redesign will also allow for more passenger and storage space and some small changes in shape.

It’s been gaining momentum throughout 2012, and it could be that 2013 is the year of the black box. Telematics has been picked up as one of the hot new things in the car market, and there’s no questioning its usefulness to consumers, manufacturers and car insurance companies. It is hoped that telematics will revolutionise the car industry by taking into account the driving habits of individuals rather than basing decisions on demographics and blanket generalisations. Whilst its immediate impact allows for a fairer and more bespoke system of underwriting for car insurance, the data captured from telematics could be used to improve safety features on future models. Watch this space.

Image is licensed under CC Attribution 1/2
Jamie Gibbs
About the Author:

Jamie Gibbs is the resident car blogger for one day car insurance comparison site Confused.com.

No comments