Globally, Automobile Industry is currently driving through a rough patch in terms of demand. An economic slowdown, coupled with other significant factors such as overcapacity, diverging regional markets, digital orientation, a shift in consumer attitude towards ride hailing/sharing services, increased regulatory constraints, fuel price hikes, and an increase in cost of components have mandated a re-consideration of automakers’ preferred policy of chugging-it-alone. A need to balance demand for innovation with ensuring financial sustenance through conventional offerings has triggered a wave of collaboration across the global automotive industry, with passenger car and light vehicle manufacturers leading the way.
An unprecedented entry of contenders from non-automotive domains over the past few years has disrupted the conventional business model with players such as Uber, Apple and Google increasingly steering the future of mobility. Emerging technology-related platforms such as Augmented Reality, 3D printing, and IoT hold the key for success towards a digitally-driven future.
What are the key trends redefining business dynamics in the automotive industry? What are the key issues which are necessitating a strategy-reset among global leaders? Really, how big are the Electric Vehicle (EV) and Autonomous Vehicle (AV) markets? Whether you are an established business interested in chalking out the ‘next strategy’ to stay ahead or a startup interested in gaining research-driven insights into dynamics of automotive industry, we at Medha are eager to engage and partner with you in your path to continued success.