Automotive Industry Data Analysis and Trends
Cole Staats
Jennyfer Puentes
November 27, 2022
This presentation is the collection of data and trends in the current automotive industry. This data will show that the Hybrid and Electric car industry is on the rise, and with us diversifying into this industry would prove to be productive. Also, I will be providing detailed visualizations showing this data making it easier to comprehend. I hope by the end of this presentation you will agree with me and that making this move into the Hybrid and electric car industry is the best way to diversify our company.
1
Introduction
Qualitative and quantitative methods of data analysis complement each other.
Quantitative methods focus on numerical values that represent a given trend or phenomenon.
Qualitative methods rely on explanations – facts and descriptions.
Qualitative and quantitative methods of data analysis complement each other. Quantitative methods focus on numerical values that represent a given trend or phenomena (Borgstede & Scholz, 2021). Qualitative methods rely on explanations – facts and descriptions.
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Automotive Trends in the US:Sales by Fuel Type
The data shows that full electric car sales are on a constant rise from 2011 to 2020. Hybrid car sales are on the decline as well as gasoline operated. The US registered about 240,000 electric car sales. However, fossil car sales still represent a dominant share of the sales.
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Trends by Motor Type
From the bar graph, with the evolving electric car technology, there is a progressive switch toward traction motors. Brushed DC and stepper motors are slowly being phased out – as the technology becomes more sophisticated. Increased friction promotes more torque (Madichetty et al., 2021).
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Customer Demands and Preferences
Customers in the US preferred white cars; at 30% compared to yellow and green cars which had a paltry 1% preference. There was also an increasing preference for fuel-efficient cars; 56%. The cars’ safety and cost were also the focus of the consumers. Little regard was given to car design and service warranty.
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Trends by Vehicle Body Type
Research shows an increasing demand for sports utility cars (Highlights of the Automotive Trends Report, 2022). There is a marked decline in the demand for saloon cars. The demands for pickups and vans is also on the decline.
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New Industry Trends: Expected growth areas
There is increasing integration of technology in car manufacturing. Artificial intelligence has resulted in the development of autonomous cars, with additional features such as human interaction, and data analysis.
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New Industry Trends: Sales
Fully electric cars are replacing plug-in hybrid cars as the switch towards eco-friendly cars takes effect. The advancement in battery technology and charging efficiency has contributed to the increasing popularity of electric cars.
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New Industry Trends: Customer Demands
Automotive customers want increased technology integration in cars to improve the driving experience. Drive-assist, motion sensors, distress assist, navigation controls, and voice commands; are some of the features that customers want to be integrated in car manufacturing.
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Summary of the Visualized Data
There is increasing popularity for electric cars.
Fossil fuel cars still command the biggest sales in the car industry.
Customers demands are influencing new trends in manufacturing – demand for SUVs, technological integration, the pricing and color.
There is increasing popularity for electric cars. Fossil fuel cars still command the biggest sales in the car industry. Customers’ demands are influencing new trends in manufacturing – demand for SUVs, technological integration, pricing, and color.
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What the Data is Not Showing
The cost implication of the improved car features on the manufacturers and consumers.
The projected automotive sales per fuel type are based on emerging trends.
External factors that influence the automotive industry trends in fuel type, sales volumes, or consumer preferences.
The cost implication of the improved car features on the manufacturers and consumers. The projected automotive sales per fuel type are based on emerging trends.
External factors that influence the automotive industry trends in fuel type, sales volumes, or consumer preferences.
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The Rational Model
This is a data-driven approach to decision making.
It involves data analysis, wide consultation, and brainstorming.
It portends the least risk and is more effective for large teams.
Requires more time and resources to reach a decision.
This is a data-driven approach to decision-making (Atlassian, n.d.). It involves data analysis, wide consultation, and brainstorming. It portends the least risk and is more effective for large teams. This model requires more time and resources to reach a decision due to massive consultations within a team.
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The Intuitive Model
It’s an unstructured decision-making process.
Relies on emotions rather than evidence.
Best fit for faster decisions and resource constraints.
It’s an unstructured decision-making process. Relies on emotions rather than evidence. Best fit for faster decisions and resource constraints.
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The Recognition-Primed Model
Analyzes solutions based on experience and suitability (Atlassian, n.d.). The most promising solution is adopted. Best fit for faster decisions and constrained resources.
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Best Choice Rational Decision-Making Model
The best choice for a decision-making model in the automotive industry is the rational model. This is because:
It is based on credible data analysis and tangible information.
It relies on a team approach hence the decision arrived at is binding and every member of the team can work towards a similar goal.
It has the least risk of errors and thus more suitable due to the huge capital investments required in the industry.
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Conclusion
From the statistical and graphical data, consumers are switching toward electric cars.
There is increasing innovativeness and technology integration in car and car component designs.
Consumer requirements are critical in determining car manufacturing sales volumes.
The rational decision-making model is the best-suited method for analyzing alternatives and making data-driven evidence.
From the statistical and graphical data, consumers are switching towards electric cars. There is increasing innovativeness and technology integration is car and car component designs. Consumer requirements are critical in determining car manufacturing sales volumes. The rational decision-making model is the best suited method for analyzing alternatives and making data-driven evidence.
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References
Atlassian. (n.d.). 5 Decision-Making Models to Try if You’re Stuck | The Workstream.
Automotive Motor Market Size & Share Report, 2019-2025. (n.d.).
Bari, Shahool Al. (2022, June). Hybrid & Electric Vehicle Manufacturing.https://my-ibisworld-com.ezproxy.snhu.edu/us/en/industry-specialized/od4516/industry-outlook
Borgstede, M., & Scholz, M. (2021). Quantitative and Qualitative Approaches to Generalization and Replication–A Representationalist View. Frontiers in Psychology, 12.
FOTW #1200, August 23, 2021: Sales of New Electric Vehicles in the U.S. Were Up for 2020 While Conventional New Light-Duty Vehicle Sales Were Down. (n.d.). Energy.gov. https://www.energy.gov/eere/vehicles/articles/fotw-1200-august-23-2021-sales-new-electric-vehicles-us-were-2020-while
Highlights of the Automotive Trends Report. (2022, November 15). US EPA. https://www.epa.gov/automotive-trends/highlights-automotive-trends-report
Madichetty, S., Mishra, S., & Basu, M. (2021). New trends in electric motors and selection for electric vehicle propulsion systems. IET Electrical Systems in Transportation, 11(3), 186–199.
MarketLine. (2021, April 28). Hybrid & Electric Cars in North America. North America – Hybrid & Electric Cars. https://advantage-marketlinecom.ezproxy.snhu.edu/Analysis/ViewasPDF/north-america-hybrid-electric-cars-58394.
MarketLine. (2018, April 5). Electric Vehicles: A deep dive into the technology that is the future of the Auto industry. https://advantage-marketlinecom.ezproxy.snhu.edu/Analysis/ViewasPDF/electric-vehicles-a-deep-dive-into-the-technologythat-is-the-future-of-the-auto-industry.
MarketLine. (2021, April 28). Global – Hybrid & Electric Cars. https://advantage-marketlinecom.ezproxy.snhu.edu/Analysis/ViewasPDF/global-hybrid-electric-cars-130182.
Pantalon, Matt. (2022, August). Automobile Engine & Parts Manufacturing in the US. https://my-ibisworld-com.ezproxy.snhu.edu/us/en/industry/33631/industry-performance
Roth, R. (2021, January). Hybrid & Electric Vehicle Manufacturing. US SPECIALIZED INDUSTRY REPORT OD4516: Hybrid & Electric Vehicle Manufacturing. https://my-ibisworldcom.ezproxy.snhu.edu/us/en/industry-specialized/od4516/about#major-players.
