![]() ![]() (See Exhibit 1.) The choice was primarily a function of mobility needs: commuting, business trips, and family errands. Until recently, customers have mostly picked a single car to fulfill an array of requirements. Here are three major trends that will dominate the products and solutions of the new era. However, the industry’s primary focus should be on its customers and the products it makes for them. These shifts will mean the industry needs a workforce with different skillsets from today. As a result, stable market shares and supplier relationships will be replaced by winner-takes-all markets for specialist technology products that are essential for making or using cars effectively. We also expect hyper-efficient mega-factories to emerge. Operations will be simplified dramatically, as rival automakers share more components such as electric powertrains and vehicle platforms. ![]() As well as their traditional suppliers, automakers will need to work with new digital firms. These changes will shake up the structures and systems on which the auto industry is based. ![]() Meanwhile, the re-emergence of protectionist trade barriers will push manufacturers increasingly to base production in the region where the cars are sold, making large-scale exports harder, including those of German premium producers. The growth of battery power and digital driving systems will mean a place in the industry for both new automotive players and other companies, in particular from China and the digital world. The shift to less-complex battery power, combined with improvements in design and manufacturing, will make vehicles more robust, and many components will need to be replaced less often. These upheavals will be accompanied by broader challenges. Third, a greater focus by customers on mobility – and reduced emphasis on ownership – will change the way cars are used, especially in big cities. Second, connected systems mean that humans play a diminishing role in actually driving cars, as autonomous vehicles navigate roads, reducing accidents and freeing up people’s time by converting them from drivers into passengers. But for some time to come, many vehicles will continue to be powered by conventional combustion engines. Electric vehicles make up an increasing proportion of new models sold, and other new technologies such as fuel cells are being developed. But the industry is about to be transformed by multiplerevolutions – from drivetrains that power vehicles to digitally connected ecosystems, which arereinventing driving and the customer experience.įirst, vehicles will run on different power sources. The automobile is arguably the most successful product of the past century, and there is littleevidence that people want to give up what it offers: fast, autonomous mobility over long andshort distances at an affordable price. ![]()
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