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Four Disruptive Trends Transforming the Auto Industry

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The following content is sponsored by autoTRADER.ca.

Auto Trends

auto trader trends

Four Disruptive Trends Transforming the Auto Industry

From a creeping crawl to a speeding bullet, the automobile has rapidly improved—and so have consumer demands.

The Ford Model T revolutionized the industry, and consumer demand catapulted it into one of the longest production runs in history.

However, consumers gradually began to desire more than just one reliable, wallet-friendly option. Today, numerous models are discontinued each year—and new features are frequently introduced to keep up with changing preferences.

Shifting Gears

This infographic from AutoTRADER.ca, Canada’s largest automotive marketplace, explores some current trends shaping the auto industry: luxury trucks, electric vehicles, millennial habits, and online research.

1. The Rise of Luxury Trucks

Most people associate trucks with off-roading and rugged work. But over the years, they’ve become much more—consumers are starting to see them as status symbols.

In addition to power, luxury trucks have features that maximize comfort and style:

  • Spacious seating
  • Large chrome wheels
  • Advanced safety features
  • Rear-seat touch screen entertainment
  • Motorized tailgates and running boards
  • Panoramic sunroofs

While most vehicle segments have seen a decline in the market, luxury trucks have grown in market share.

Year$80-$100K truck listings (% of overall truck listings)
20158.3%
201610.5%
201711.0%
201813.9%

High-end trucks offer both functional strength and premium features, and continue to drive growth in the auto industry.

2. Electric Vehicles: A Small but Growing Market

Electric vehicle (EV) listings are growing from low initial numbers, and their overall market share is still limited. However, the demand for EVs is growing rapidly—from 2017 to 2018, AutoTRADER.ca’s EV market doubled.*

Note: AutoTRADER.ca’s EV market excludes hybrids.

On top of that, EVs are selling faster. In 2018, it took 15 days for an EV listing to turnover, compared to 27 days in 2016.

What has caused this surge in popularity?

  • Environmental Impact: EVs are nearly five times more efficient at converting stored energy than traditional cars.
  • Lower Costs: On average, battery EVs save Canadian households about 71% in annual fuel and maintenance.
  • Less Traffic: Certain areas like British Columbia, Ontario, California, and New York offer high-occupancy vehicle (HOV) lane access to single-occupant EVs.

As various regions take steps to remove gas-powered vehicles from the roads, the EV market will continue to expand.

3. Millennial Purchasing Habits

While many think that millennials aren’t buying cars, the data tells a different story. In the first quarter of 2018, millennials accounted for all new vehicle sales growth in the North American auto industry.

Millennials are still buying vehicles—they’re just waiting longer than previous generations did. Cash-strapped millennials are up to nine times more likely to delay a vehicle purchase until they’re triggered by a life change such as switching jobs, getting married, or having children.

Main Purchase Trigger by Generation

 Want to change from existing vehicleLife changeOther
Millennial60%27%12%
Gen X74%9%18%
Baby Boomer76%3%21%

Note: numbers may not sum to 100 due to rounding.

To help with purchase decisions, millennials refer to video content and draw on personal networks. They also prefer to visit online marketplaces over physical dealerships.

4. Online Research

Millennials aren’t the only ones turning to the internet for help: roughly eight in ten buyers use online sources to help them simplify the decision-making process.

Automotive marketplaces are the most popular resource—used by 77% of online buyers. What makes them so popular?

  • Pricing guidelines give buyers confidence in the fair market price they can expect to pay
  • Comparison tools help buyers choose the body type, make, and model of their next vehicle
  • Reviews by owners and industry experts provide unbiased opinions
  • Location-based searches help buyers find local listings from dealers and private sellers

All of this easily accessible information has made online marketplaces the go-to source for consumers’ automobile needs.

A Trusted Guide

To keep up with rapid change in auto industry trends, Canadians can depend on autoTRADER.ca.

AutoTRADER.ca is Canada’s most trusted place to buy and sell cars, and is a one-stop shop for:

  • Industry news
  • Reviews and advice
  • Valuation and car buying tools
  • Price comparisons
  • The largest selection of new and used vehicles nationwide

Armed with autoTRADER.ca’s transparent and unbiased advice, Canadians can confidently find their perfect vehicle.

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Unlocking Earth’s Treasures with Mineral Exploration

There are untold treasures in the Earth’s surface waiting for discovery. Skeena Resources is opening the vault in the Golden Triangle at Eskay Creek.

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Natural Wealth

Unlocking Earth’s Treasures with Mineral Exploration

There are untold treasures of gold, silver, copper, and much more that lie beneath the Earth’s surface, awaiting discovery—and it takes mineral exploration and the right team to unlock this hidden wealth from the depths.

Mining exploration company Skeena Resources is opening the vault to the treasures of British Columbia’s Golden Triangle at the famous Eskay Creek property.

Following in footsteps of other successful mineral exploration efforts, Skeena is proving there is more value to unlock at Eskay Creek. The Golden Triangle is already home to some of the most productive mines in the world.

Keys to the Vault: Turning Discoveries into Resources

A mineral exploration company such as Skeena conducts geological studies to turn a discovery into a mineable resource. As each mineral deposit becomes better understood, new value is unlocked and its economic value increases.

The mining industry uses three resource classifications for a mineral discovery, based on the amount and proximity of drill holes.

  1. Inferred
  2. Indicated
  3. Measured

Each one of these categories represent the confidence with which an economic source of minerals exists. The “Inferred” classification is the lowest level of confidence that a certain amount of ore exists in a location while “Measured” is the highest.

Companies drill holes and pull out small samples of the ground in order to discover and measure the continuity and grade of a mineral occurrence. The results of drilling provide more and more data for improving the understanding of a deposit. Each study eventually cuts the key to unlock the treasure below.

Grade is King: The Higher the Grade, The Lower the Costs

In order for a mineral deposit to be valuable it must pass the grade. The amount of the sought-after mineral within a particular amount of rock is known as the ore grade. Typically, the higher the ore grade, the more profitable a mine can be.

Skeena Resource’s Eskay Creek has a grade of 4.3 grams per tonne ‘g/t’, making it 3x higher than the global average grade of open pit mining projects. This could potentially make it all the more unique and valuable to investors.

Unlocking the Vault

Gold’s value is in part due to its rarity. The precious metal cannot be artificially produced and is only found deep inside the vault that is the Earth’s crust. This makes mineral exploration an extremely rewarding business if a discovery is made.

In terms of statistics, the odds are 1 in 10,000 that greenfield exploration produces a profitable mine—and odds are even more remote for a mineral occurrence to become a world-class mine. Further, if a gold deposit is actually found, there is only a 10% chance it will have enough gold justify further development.

Through targeted mineral exploration, Skeena Resources is proving there is more golden treasure to uncover at the legendary Eskay Creek.

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How Hospital Bottlenecks Cause A Healthcare Gridlock

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How Hospital Bottlenecks Cause A Healthcare Gridlock

The healthcare industry is complex and interdependent. Much like a highway interchange, it relies on multiple players and processes to flow smoothly.

But just like in an interchange, a single roadblock can bring the system to a grinding halt—leading to serious consequences for all involved.

The Healthcare Silos

In healthcare, there are three primary players, each with their own priorities. However, they stay in their own lane and rely on independent software systems to achieve their goals.

Healthcare playerMain prioritySystem used
PatientsSeek an engaged and personalized experienceDigital technologies
- Example: mobile health, wearables
- Provide constant monitoring and instantaneous updates
Providers (Doctors, nurses, and more)Provide the highest quality of careElectronic health records
- A comprehensive record of a patient’s medical history
Payers (Insurance companies)Balance the cost and quality of careClaims database
- Information on medical appointments, bills, and more (some claims can take 60 days to process)

This leads to frustrations for all parties, including poor communication and uncoordinated care.

A Not-So-Patient Journey

What factors lead to a less-than-desirable experience? Challenges arise from the moment a patient walks into a hospital

  1. Entering the Emergency Department (ED)
    Overcrowded EDs are often the first point of contact for a patient. On average, 43.3 per 100 people visit the emergency department annually in the United States for everything from fevers to injuries. Of these, 6 out of 10 must wait longer than 15 minutes before they can be seen by a provider.
  2. Playing the Waiting Game
    Patients are willing to endure up to 2 hours in the emergency department, but wait times often surpass that. The average wait time in 2017 was upwards of 352 minutes, or almost six hours. As a result, up to 9% of patients leave without being seen (LWBS).

There’s simple psychology behind why some people aren’t able to wait it out. According to former Harvard professor David Maister, unoccupied time that is compounded with anxiety makes a wait feel longer.

These long waits also affect a patient’s perception and satisfaction of the care they eventually do receive.

The True Cost

After they’re admitted, inconsistent processes and flows continue to plague patient experiences.

A typical hospital stay can rack up a single patient close to $12,000 across 4.6 days. With these costs climbing every year, uncoordinated care adds to these receipts by extending the stay.

Uncoordinated care also creates a dire strain on resources, including the humans behind all the work. The resulting physician burnout costs the U.S. health system $32 billion annually. While lost productivity causes over half ($18 billion) of this amount, another $8.5 billion is due to poor experiences, which impacts patient satisfaction which leads to falling margins for hospitals.

Severe bottlenecks compound these issues, forcing the healthcare system into a gridlock.

What’s Causing the Jam?

Disjointed communication and a lack of visibility across systems are the major reasons for these costly standstills. This is analogous to using a paper map to navigate:

  • No updates based on the current situation
  • Time-consuming to figure out specific route to a destination
  • Show multiple routes, but not the fastest way to get there

What if there was a smart GPS to help the healthcare industry overcome roadblocks?

  • Real-time, dynamic updates on the current situation
  • Knows where you are, and where you need to go
  • Filters only the appropriate and relevant information

The Leidos careC2 Command Center solves healthcare traffic jams.

The coordinated technology suite rapidly identifies and reduces bottlenecks and delays in the care process. This improves the operational flow of hospitals—so that patients, providers, and payers all reach their destinations safely and efficiently.

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