Integrate technology with latest models of cars
The global automotive market looks as vibrant as ever. Car manufacturers around the world were able to sell more than 86 million units in 2018, including record numbers of electric models and sports vehicles, according to Gato research. In addition, according to Bloomberg, an estimated 1.3 billion cars are on the road today, the most in history. However, the space is not without challenges. For example, sales in vertical sectors in North America, Europe, the Middle East and Africa fell last year, Gato discovered. Many mobility trends force customers to rethink traditional car finance and leasing models and look for alternative options. Ownership of private vehicles and public transport: these have been the only options consumers have enjoyed around the world for decades. However, this is no longer the case. A series of new alternatives have been achieved in recent years, and they now collectively threaten the historical control of automobile manufacturers over human movement. These i