3 Car Market Trends Auto Mechanic School Students Will Continue to See in 2023

The car market has seen some significant changes happen in recent years. The used car market saw a spike in prices that shook the industry and has only recently begun declining again, while EVs have grown in popularity around the world with start-ups changing the industry and now more OEM manufacturers getting on board. Overall, the trends that have occurred in recent years will impact 2023, with some trends changing and others continuing. 

If you want to learn more about which car trends are expected to continue in 2023 and how they affect you as an auto mechanic student, this blog is for you.

1. Used Car Sales Will Still Benefit You After Auto Mechanic Training

From mid-2021 until mid-2022, the used car market saw an increase in prices. There were several factors which caused these price increases, such as the pandemic and the supply shortage, which impacted the new car market. However, since mid-2022, there has been a decrease in prices in the used car market. Vehicles older than three years are expected to see the most significant price decline, while vehicles between one- and three years old are expected to be the least affected. The reduction in used car prices, coupled with the increase in new vehicle prices expected and the economic downturn expected in 2023, could mean a boom in used car sales.

An increase in used car sales means that there will be more business for auto mechanics. Used cars are more likely to have problems and faults that need repairing than new cars. This means that as a future auto mechanic, you will have more work on the horizon. During auto mechanic training, you will be equipped with the skills needed to repair and service cars. You will also learn about their engines, transmission, suspension, and more since your training will be a combination of theory and hands-on practice. This will help you understand the theory, but also how to apply this theory in real-life situations.

2. EV Prices Will Continue Rising Due to Raw Material Prices

Raw materials are in short supply for EVs and the battery packs which power them. In 2022, there was a shortage of semiconductor chips which saw a significant backlog develop for new EVs. This trend is expected to continue in 2023, although to a lesser extent. However, the raw materials used to create batteries, such as lithium, nickel, and cobalt, have experienced significant price increases. This price increase is caused by insufficient mining for these materials. With this, there will unlikely be a reduction in EV prices soon.

Even with semiconductor chips being more common to reduce the backlog of EV production, there is still an expectation of a significant price difference between EVs and their petrol-powered alternatives. It is estimated that the mining and production of lithium will need to be increased by 40 times as much as what is currently being produced, while Nickel needs to be increased by 25 times. These increases will help meet the battery demands of the future and help reduce the price of EVs; however, they are not expected to be implemented for some time.

3. EV Sales Will Continue to Increase

Despite challenges in the EV production process and their price increase, EV sales are still expected to increase in 2023. More manufacturers are producing EVs that satisfy consumers’ needs and wants. There are a host of EVs designed for city driving, and there are even hypercar EVs. More so, subsidies are available, which help make these vehicles slightly more affordable and accessible.

There is also expected to be increased hybrid vehicle production and sales. EVs aren’t ideal for everyone, and hybrids are a great middle point for satisfying those who still want the best of both worlds. Hybrid adoption means that you will still be able to perform a majority of repairs and services on these vehicles using what you learn during auto mechanic school. You may need more specialized training for the drivetrain, electrical systems, and braking systems at a later point, though.

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