The rapid development of emerging technologies in the automotive space is resulting in enhancements increasingly becoming expected as standard, according to a report by Alphera.

The independent arm of BMW Financial Services originally released the report ‘Financing the Car of the Future’ in December 2016, and spoke about the mainstreaming of burgeoning car technology.

They stated that the UK was undergoing a transport revolution, which would see technology once seen as added extras, such as touchscreens and wi-fi, a matter of necessity.

Alphera also claimed that as the market accelerated towards greater autonomous driving, the trends would only gather pace, and expected cars to become ‘portable work stations’.

According to Gerry Kouris, Alphera’s financial services marketing manager, such technology will radically change the way consumers drive.

Kouris said: “This new chapter sheds light on how the finance industry will adapt to the advances in car technology, such as automation and connecting to the internet to enhance the driving experience.”

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By GlobalData