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 ...