The automotive industry is facing a radical change
“Stormy times” and “new dynamics”: Two recent studies are forecasting moving years for the automotive industry in the truest sense of the word. Both see above all China catching up rapidly, in the premium segment and in terms of innovations.
Share
Strategy consultant Oliver Wyman speaks of a “fundamental change in a new dimension.” Together with the German Association of the Automotive Industry (VDA) , they concluded that value creation will shift considerably in favor of emerging economies. China will soon displace Europe from the top position in production. In addition, China’s share of the premium segment will increase from 13% to 20% by 2030. The authors consider that the suppliers will have to reorient themselves even more so than the manufacturers. Many companies have already started doing that, through faster launch management, growth and investment finance, and gaining of new talent, for example.
PwC’s consultants and the Center of Automotive Management (CAM) are increasingly focusing their attention on industry innovation. Every third relevant innovation in the global auto industry came from VW, Daimler or BMW in 2017. But the Chinese have caught up even here and are now in second place with 18%. In this respect, we are talking about a new phase of its development. Chinese corporations no longer just wanted to emulate Western producers, but are now openly challenging them with their own innovations. Overall, 27% of all innovations were in the area of safety and driver assistance systems, while every fifth innovation affected the engine area. The customer benefits are increasingly defined by the comfort or the user experience, while basic needs such as driving performance or versatility are largely satisfied today.
Related Exhibitors
Interested in news about exhibitors, top offers and trends in the industry?
Browser Notice
Your web browser is outdated. Update your browser for more security, speed and optimal presentation of this page.
Update Browser