A recent study by McKinsey and PwC shows that the automotive industry is undergoing massive change. OEMs are evolving their collaboration strategies and ways of doing business to remain competitive. New technology such as fuel economy, sensors, and systems have increased the technical content of a vehicle. The car is also a communications, entertainment, and communication platform, and the OEMs must master all of these elements to stay ahead of the competition.
As technology continues to improve and the cost of integrating new information becomes more significant, the auto industry is under intense pressure to meet consumer expectations. To compete, the industry must develop new ways to capture attention and spend on transportation. As a result, the auto industry needs to transform and focus on maximizing the value of digitalization. This article outlines the major challenges facing the industry as it tries to meet the demands of consumers.
According to a recent McKinsey survey, nearly eighty percent of automotive suppliers have already defined sustainability targets. This gap between planning and doing may be understandable from a near-term economic perspective. For example, many suppliers are keeping plants in lower-cost regions, even though that will cost them more in CO2 emissions. However, this cost advantage is largely offset by increased emissions if plants were located in higher-cost areas.
The EV transition has begun, but most OEMs are not profiting from EV sales. Compared to ICE vehicles, EVs cost around $12,000 more to produce. With higher production costs, carmakers … READ MORE ...
The automotive industry is experiencing a radical transformation from a world of competition among peers to a collaborative and open ecosystem. This shift requires OEMs to align their skills to the challenges of the future, including cybersecurity, data privacy, and continuous product updates. To be successful in this new world, they must differentiate their products, reinvent their value proposition, and move beyond traditional car sales and maintenance.
McKinsey’s Senior Expert in Cologne, Timo Moller, explores these trends.
The fourth industrial revolution is expected to begin in the automotive industry, which is already at the forefront of new technologies. Historically, the industry has pioneered new manufacturing techniques, mass production and lean production. It is one of the largest industries, and contains around 40% of the world’s operational robots. It also employs a high proportion of unskilled workers. Advances in manufacturing technology have streamlined many processes and lowered labor costs.
The Automotive Industry is poised for rapid change, and game-changing disruption is just around the corner. However, no comprehensive perspective exists on what the future might hold. Here, eight key perspectives on what the automotive industry will look like in the next ten to fifteen years. These trends will be shaped by new technologies and consumer habits, and they are already shaping the industry today. For automotive leaders, it’s critical to understand these trends and prepare for the changes ahead.
Automotive lightweighting strategies are based on cost, performance, and sustainability. Considering these factors, these trends create … READ MORE ...
Automotive industry statistics show that the largest market is Asia Pacific. The US has lost ground since 2016 with vehicle production declining by 27.7%. Carbon fiber is a labor-intensive material. Sales of private vehicles are set to decrease, as shared mobility services expand. But how much will this change? The following facts will provide some perspective. Let’s look at some of the key trends. And what are the implications for the industry? We’ll look at trends in the US, Europe, and Asia.
Asia Pacific is the largest automotive market
With its massive population and thriving economies, Asia Pacific is a top destination for automotive manufacturers. The region is home to some of the world’s most valuable vehicle manufacturers, including Toyota, Honda, and Hyundai. Sales of passenger vehicles in the region generate enormous revenue for the automotive industry. Many automakers are investing heavily in research and development and market-specific media insights. Communicators must work closely with their marketing and communications counterparts to create integrated campaigns that promote their brand and products.
The report uses a variety of primary and secondary sources, including financial reports, national government documents, and a statistical database. Major companies included in the report include Aptiv PLC, Continental AG, Denso Corporation, Hitachi, Ltd., Pektron, Robert Bosch GmbH, and ZF Friedrichshafen AG. There are several other companies listed in the report, including Veoneer Inc. and Transtron Inc.
US vehicle production has fallen by 27.7% since 2016
After the auto industry, manufacturing accounts for less than 12% of the U.S. … READ MORE ...
As the automotive industry has suffered from supply chain challenges and low inventories in the last year, there is still hope for better times to come. But what exactly are the major trends to watch for in the year 2022? Wallenius Wilhelmsen’s senior analyst, Erik Solum, looks at some of the key factors that will impact the industry. Light vehicle sales are up, the global economy is improving, and the Delta variant poses a threat to the global economy and pandemic. At the same time, new entrants will appear in the Top 100.
Autonomous self-driving vehicles
While passenger cars have long dominated the automotive market, self-driving technology is equally well-suited for commercial use. While last-mile deliveries and long-range trucking will be the initial commercial applications, an increasing number of companies will shift their focus to more widespread commercial uses. Companies like Waymo Via and Aurora are currently in the development stage for driverless freight trucks.
Subscription-based pricing models
As an automaker, you have probably noticed the increasing number of subscription-based pricing models in the automotive industry. These models offer the advantages of building fleets at a lower cost while also allowing OEMs to capture higher margins as the market grows. In addition to this, subscription-based pricing is often perceived as the ultimate test-drive, attracting future buyers and even non-car buyers. In this article, we will discuss the advantages and disadvantages of subscription-based pricing models in the automotive industry.
According to the European Automobile Manufacturers Association (ACEA), new car … READ MORE ...
A digital multimeter or DMM is a valuable instrument for measuring voltage, current and resistance, and some meters have a facility for testing transistors and capacitors. Reach Automotive specialists through expense-efficient advertising and marketing opportunities to provide your message, position your self as a believed leader, and introduce new products, tactics and approaches to the market place. Organized for the first time this year, AUTÓTECHNIKA Playground was a extremely popular occasion, where vehicle repair and upkeep authorities as nicely as interested layman had a opportunity to try different work processes. Watch me carry out the automotive equivalent of hammering nails in to my nostrils for your entertainment! The Automotive major is formally part of the Electrical Engineering Bachelor study plan. See us for your hybrid repair which includes Toyota (Prius, Camry, Highlander), Honda (Civic GX, Insight), Chevy (Tahoe, Malibu), Ford (Fusion, Escape, Concentrate), and Lexus RX 400h.
A detailed list of the specifications being developed by the group are listed in the Automotive Wiki The newest Editor’s Drafts of the operating group’s specifications are accessible on GitHub. If this number is much less than 45% then we need to have to appear at how the parts are getting billed on the repair order. If you have any concerns concerning TU-Automotive Europe 2016 please do get in touch.
For many automotive dealers service, buyers usually consist of men and women who have bought cars in the dealer. It is a totally independent technologies with a strong open-source ecosystem, which enables freedom … READ MORE ...