The automotive industry has evolved significantly over the past decade. Digital technology, change in customer sentiment and economic health have played a vital role in this evolution. OEMs and other key industry players are taking note of this evolution and investing heavily in non-commercial business practices of manufacturing vehicles. Alternative revenue sources are rapidly taking over the market. Mobility companies such as Uber have grown exponentially over the last few years and established technology companies like Amazon and Microsoft are crunching back-end automotive data. Connected technology has become even more important and fundamental to the advancement of vehicles, bringing in a host of new features and offerings.
The global automotive industry is expected to begin a challenging phase in 2019, with OEMs especially facing multiple obstacles all over the world. China faced its first even decline in vehicles sales in over 20 years, the USA market grew marginally, the shockwaves of Brexit and USMCA deal are expected create across global markets and the new US-China trade war. This is expected to play out till 2020 at least with global markets expected to rebound by around 2023.
Similar to previous years, trends such as declining sedan sales, increasing alternative fuel powertrains especially electric vehicles, and more value-added services in digital retail will continue to remain dominant in the automotive industry. New and alternative forms of vehicle ownership are becoming more popular, especially subscription services and e-powered ride-hailing services.
Key Issues Addressed
- What are the expected trends in the automotive industry in 2019?
- What are the key regional market performances in 2018 and expectations in 2019, with in-depth coverage of the ASEAN and LATAM markets?
- How did the biggest OEMs perform in 2018 and what are the expectations in terms of sales in 2019?
- The defining factors for mobility, powertrain, emobility, autonomous, connected and telematics, and aftermarket segments of the industry?
- How is the global automotive industry as a whole expected to advance, especially focusing on the impact on the customer?
To summarize, this research will also provide some key insights on what strategies are expected by industry players in the coming year and what we can tend to expect for the next decade. It will provide context to global automotive and parallel industry players about how the dynamics within the industry will change and how it could affect other companies too. Given the penetration of software and technology companies especially in the automotive industry, this will be of importance.