There could be an increase in high-tech gadgets second hand car parts on the market in future years as manufacturers becoming ever more aware of the need to offer consumers the latest in entertainment and information technology.
High-tech gadgets in future cars
According to new research by KPMG, car manufacturers increasingly believe that high-tech gadgets and internet-connected devices will be key in attracting customers in the future.
As such, many are looking at entering corporate partnerships with technology companies to bring these devices to their vehicles.
A survey by KMPG found that 34 per cent of car executives expect that consumers' purchasing decisions over the next five years will be driven by whether the car they purchase has internet connectivity and built-in technologies such as navigation with live traffic update, voice recognition and access to smartphones through steering wheel controls and the dashboard.
This puts the importance of such features almost on par with car safety (37 per cent) and environmental friendliness (40 per cent).
"Global car executives believe that as consumers become accustomed to instant access at home and in the office, customers will expect the same services when on the move in their vehicles. In the future, connectivity will not simply be a 'nice to have' feature but an intrinsic part of a vehicle," said John Leech, head of automotive at KPMG.
Meanwhile, the second hand car parts of the future could also include components designed to increase the efficiency of vehicles.
The survey found that over half (53 per cent) of car executives expect hybrid fuel to attract the most auto industry investment over the next five years, while 54 per cent of those polled said they expect suppliers of electric components, such as battery, e-motor and power electric companies, to gain a significant role in the automotive value chain between now and 2025.