The auto industry faces two challenges as technology systems become more complex. One is that drivers find them so complicated that they do not use them. The other is that the technology requires components that are not always available. A semiconductor chip shortage, which includes those often used in auto electronics systems, has severely limited what manufacturers can build. This has hurt manufacturer earnings and has driven car supplies down and car prices up.
And, times have changed. Three decades ago, American cars were technologically primitive by today’s standards. Airbags were not mandatory until 1991. Today, the advances have come so far that people anticipate having safe, self-driving cars by the end of the decade.
J.D. Power, probably the most widely respected car research firm in America, has just released its 2021 U.S. Tech Experience Index. It divides car technology into these four measures: “convenience; emerging automation; energy and sustainability; and infotainment and connectivity.” The study involved 110,827 people with new 2021 model vehicles after they had been owned for 90 days.
Speaking about the use of these new technologies, Kristin Kolodge, executive director of human machine interface at J.D. Power, pointed out: “New-vehicle prices are at an all-time high, partly as a result of an increased level of content. This is fine if owners are getting value for their money, but some features seem like a waste to many owners.”
“Non-users” of new technologies said they do not need the features. In other words, buyers are paying for features they feel are useless.
Cars in the study were divided into two groups: mass-market and premium cars. J.D. Power ranked each car brand on a 1,000-point scale.
Among all the cars regardless of category, Genesis, the luxury brand of Hyundai scored the best with a rating of 634. The number is impressive in part because it did not operate separately from its parent in the U.S. until 2015
Genesis follows the multi decade trend of Asian mainstream car companies which create an independent luxury brand. This includes Lexus from Toyota, Infiniti from Nissan, and Acura from Honda.
Click here to see the car with the best technology
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.