2024 started with drama around EV launches and ended with Nissan, Honda, and Mitsubishi merging in a $50B deal to become the third-largest automobile player, behind Volkswagen and Toyota, the number one and number two players.
2024 was an inflection point for EV cars, with prices dropping and making them more affordable, as promised during the launches. However, in reality, the prices are often higher once you factor in various taxes! You’ll likely agree that when you go to buy an EV, you end up paying more than expected. If you choose not to make a full payment and go for an EMI plan, the price is even higher. The interest rates for auto loans vary by country, so the total cost can differ significantly. You can calculate the cost accordingly. I recently read somewhere that the prices of EVs could eventually match those of ICE cars in the same categories. It is possible or not, an answer in future time.
Level 3 autonomous driving capabilities. This means certain models, such as those from Mercedes-Benz and Honda, can handle all driving tasks in specific conditions like highways and traffic jams, letting drivers take their hands off the wheel, though they must be ready to take control when needed.
The Ford Mustang Mach-E is a great example of how iconic, famous car models are being converted into electric line-ups. This will be a key deciding factor for customers when choosing which car to buy. I must say, this is a fair and exciting competition. I think it’s the best move from Ford to test the consumer mindset effectively.
These are the three major things I’ve observed in the automotive industry. 2025 is shaping up to be a great year ahead for all auto fans, with plenty to look forward to in the automotive world. I’m someone like you; if you notice anything noteworthy in 2024, feel free to share below!
