< Key Hightlight >

SCOPE

ELECTRIC VEHICLE SALES TO BOOM

In 2021, electric car purchases will continue surging, recording 46% growth across the world’s major consumer markets fuelled by rising consumer awareness of climate change, expansion of affordable electric vehicle options and increasing curbs on the use of internal combustion engine cars. China will be the major electric car growth market, recording 77% year-on-year growth in 2021. 

MICRO-MOBILITY WILL BECOME MORE IMPORTANT IN COMMUTING

In 2021, micro-mobility modes such as electric scooters and electric bicycles (as well as their respective sharing systems) will become more pervasive and popular as modes of transportation. This will come as certain consumers will reduce or completely discontinue public transport or other enclosed mobility in favour of open-air solo mobility. 

ONLINE CAR SALES TO PROVIDE ADDITIONAL REVENUE SOURCE

In 2021, automotive makers will increasingly adopt online sales channels. The COVID-19 pandemic accelerated the move to online and this is likely to become a permanent change in 2021 as restrictions on face-to-face contact are likely to continue.

CONNECTED CARS TO BENEFIT FROM 5G ROLLOUT

In 2021, connected car technologies will become even more popular as the demand for data-driven decision making will surge. The increasing number of countries rolling out 5G internet will aid in faster and more sizeable transmission of data, providing users with telematics, infotainment and other personalised applications and features.

VR AND AR TO IMPROVE BUSINESS PROCESSES AND GREATER CONSUMER EXPERIENCE

  In 2021, virtual and augmented reality will increasingly become utilised by car manufacturers and dealers across various business functions including design, testing and selling. VR showrooms will become popular, providing customers with more immersive experiences at a relatively small cost to dealerships.