AUTOMOTIVE MARKET RESEARCH

Fuel prices are a constant concern and one of the key factors in car industry development. For the first time in decades, in 2020, the USA had become the biggest oil producer globally, passing Russia and Saudi Arabia, which previously held the first spot. This shift in oil production might result in varying fuel prices and an unstable market that could see a rise in gasoline and diesel prices in Europe. We all remember the spike in fuel prices in the early 2010s, which forced manufacturers to introduce downsized engines and helped the rise of electric vehicles. If American strategists decided to raise the fuel prices, it might happen again. Also, there are talks of imposing new and more demanding fuel economy standards for all car companies, which could influence the development of future models... Nearly every single player on the automotive market is currently facing at least one or more of these hurdles.