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    Does technology impact the value of your car?

    From advanced safety features like lane assist to the latest in infotainment systems, technology is revolutionizing the driving experience – and shaping consumer preferences. 

    Having the latest tech specs can be a huge selling point for British drivers, and offer a nice boost in value for motorists looking to sell their cars or vans. However, the rapid pace of technological advancements also means that tech-heavy models can become outdated quickly, and decrease in value as a result.

    The role of technology cannot be understated in the 21st century, especially when it comes to cars. Whether buying or selling, put yourself in the driver’s seat by knowing how built-in and added technology affects your car’s worth. 

    Impact of technology on car value

    Having the latest technological features can significantly impact your car’s value.

    The role of onboard technology cannot be overstated in the car resale equation. Built-in and added features can enhance a vehicle’s appeal and positively impact its value retention, but also risk decreasing your car’s value in the long term. 

    Technological pros 

    We dive into three main categories of car technology – in-car additions, safety systems, and power updates – bolstering resale value: 

    🚗 In-car technology 

    Cars equipped with advanced infotainment systems and robust connectivity capabilities tend to retain higher resale values. Offering everything from touchscreen interfaces and WiFi to smartphone integration and voice recognition, vehicles that allow occupants to stay connected on the go generally maintain their value well – as long as their technological features work well and are not outdated.

    🚗 Safety features 

    Safety should be every driver’s number one priority, so it makes sense that vehicles equipped with advanced safety technologies tend to command higher resale values. 

    Advanced driver-assistance systems (ADAS), which include automatic emergency braking, blind-spot monitoring, and lane departure warning, are becoming increasingly common. Many drivers see cars equipped with comprehensive ADAS packages as safer and more advanced, factors which contribute to higher resale values compared to vehicles lacking these safety features.

    🚗 Electric and hybrid power

    Electric vehicles (EVs) and hybrid cars often retain their value well due to their eco-friendly credentials and lower operating costs. As environmental concerns grow and fuel prices fluctuate, the demand for vehicles using alternative power sources is expected to increase. This popularity has driven manufacturers to improve existing technology and infrastructure, as well as develop additional environmentally friendly solutions. 

    All in all, electric and hybrid vehicles generally retain their value well, especially in urban areas where emissions regulations are stricter.

    Technological cons

    However, the pace of technological evolution can also be a negative in terms of car value. With updates and new technology coming out every day, car systems can quickly become outdated. This can lead to a faster depreciation in value. 

    For example, Japanese models are typically upgraded and redesigned every few years. Such upgrades can leave the existing stock on the road downgraded to ‘runout’ status and decreased in value.

    Buyers value cars that can adapt to evolving technology trends and receive software updates or hardware upgrades to stay current, ensuring their investment retains its value over time

    Automotive technology trends

    The future is bright for the role of technology in the automotive world.

    Technological advances impact every aspect of your car, from boot to bonnet. This includes the integration of advanced systems, components, and software to enhance various aspects of the driving experience, such as safety, performance, comfort, and convenience. 

    Several key trends shaping the future of the automotive industry include:

    ⚡ Electrification – Electric vehicles (EVs) are continuing to gain momentum in the UK, in part due to stricter emissions regulations and growing consumer interest in electric vehicles. Electric powertrains offer environmental benefits and largely lower operating costs, driving increased automaker production and consumer demand.

    ⚡ Green technology – Car manufacturers are prioritizing sustainability initiatives, developing eco-friendly materials, improving energy efficiency, and exploring alternative fuel sources such as hydrogen fuel cells. Demand for sustainable alternatives has also gone through the roof; coupled with the expansion of Clean Air Zones and Ultra Low Emissions Zones across the UK, it’s no wonder that both manufacturers and motorists are thinking green.

    ⚡ Artificial intelligence (AI) –  AI is playing an increasingly significant role in car technology, powering advanced driver assistance systems, natural language processing, and autonomous driving algorithms. Machine learning algorithms help vehicles learn from data and adapt to changing conditions, improving their safety and efficiency on the road. 

    ⚡ Shared mobility – Ride-hailing services, car-sharing platforms, and autonomous fleets are transforming how we think about transportation. Offering convenience, cost savings, and environmental benefits, shared riding models are shifting consumer behavior and urban mobility patterns.

    ⚡ Autonomous driving – The integration of autonomous driving technology, albeit still in its early stages, holds the promise of significantly improving road safety and reducing accidents. Cars equipped with autonomous driving features, such as adaptive cruise control and lane-keeping assist, may command higher resale values due to their enhanced safety credentials and appeal to safety-conscious buyers once they hit the mass market.

    ⚡ Connectivity and IoT – The Internet of Things (IoT) is revolutionising the automotive sector, enabling seamless communication between vehicles, infrastructure, and other smart devices. Connected cars can exchange data in real-time, improving traffic management, enhancing road safety, and enabling new services such as predictive maintenance and remote diagnostics. Watch this space!

    FAQs

    How has technology impacted the car industry?

    Technology has revolutionized the car industry, introducing advanced safety features, connectivity options, and electric powertrains. Infotainment systems and autonomous driving technology have reshaped the driving experience, while electric and hybrid vehicles offer eco-friendly alternatives to petrol and diesel cars.

    What is the future of car technology?

    The future of car technology promises further advancements in a diversity of areas. We can expect to see more sophisticated self-driving capabilities, increased adoption of EVs, seamless connectivity between vehicles and infrastructure, and continued focus on reducing environmental impact.

    Why is vehicle technology important?

    Vehicle technology is crucial for enhancing safety, efficiency, and convenience. Advanced safety features reduce accidents and save lives, while connectivity options keep drivers connected and entertained. Electric and hybrid technology offers sustainable transportation solutions while reducing dependence on fossil fuels.

    How can I track the value of my car?

    If you’re not sure what your car’s value is to begin with, it’s hard to know how its technological features can affect its resale price.

    All vehicles depreciate at varying rates, with no rule of averages accurately describing any one car’s changing value. Motorway’s Car Value Tracker provides a free, reliable monthly price alert for up to six vehicles at once. 

    Follow changes to your car’s value to choose the best time to sell, and make informed choices about investments in your car’s maintenance.

    Need to sell your car?

    Want to learn more about owning, maintaining, and selling your car? Check out more of our guides here, covering everything from Clean Air Zones to car tax, and plate changes to part exchange. 

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