A report issued by McKinsey & Company predicting trends up through 2020 in the global automotive industry identifies four challenges that will affect the industry’s growth. With these four challenges in mind, we offer quality solutions that effectively hedge or otherwise prepare those working within the industry.
- Complexity and cost pressure
- Diverging markets
- Digital demands
- Shifting industry landscape
“To capture future growth and find profit from these challenges – and to mitigate their risks – OEMs cannot simply turn to their traditional toolbox. They need to review and adjust their strategic priorities, deploy the appropriate investments and resources, and develop new skills to execute these strategic objectives.”
The automotive aftermarket faces it’s own challenges as well, discussed in detail within the Aftermarket Outlook 2020 report. According to the report, challenges include: