The automotive industry had a challenging 2019 marked by falling sales, declining demand in key markets and general uncertainties caused by Brexit and the U.S.-China tariff wars. Simultaneously, innovative technologies, new business models and evolving customer expectations energized the market, creating a springboard for a comeback in 2020.
So what will drive the global automotive industry in 2020? For a start, the buzz over Connected, Autonomous, Shared and Electric (CASE) is set to get louder. In the connected domain, expect IOT platforms and in-vehicle payments (IVP) for goods and services to make their way into cars. Disruption is on the cards across platform strategies, vehicle architectures and feature enhancements as autonomous development revs up a notch.
Vehicle ownership paradigms will continue to transform as automotive manufacturers aggressively push vehicle subscription models. An equally dramatic change will play out as mobility as a service (MaaS) ushers in an era of sustainable, personalized mobility.
Collaborations between automotive manufacturers, mobility service providers and autonomous technology companies will become more pronounced as they push the envelope on autonomous shared transportation. Electric vehicles will have a major role to play in the shared mobility space with more than 20 electric car sharing programs having been launched globally in the past 2 years.
Meanwhile, led by China, electric vehicle sales will breach the 2.5 million mark in 2020. xEVs will make further inroads into passenger vehicle sales as the theme of sustainable mobility continues to gain momentum.
To learn more about the impacts of these and other key trends on the automotive industry in 2020, listen to our webinar “What’s Driving the Global Automotive Industry in 2020?” led by:
Sarwant Singh: Managing Partner, Frost & Sullivan
Heral Mehta: Director at Rothschild & Co.
Martyn Briggs: Vice President, Thematic Research at Bank of America Merrill Lynch
Franck Leveque: Partner and Business Unit Leader, Mobility
Shwetha Surender: Industry Principal, Mobility
You can find the recording at this link: https://www.brighttalk.com/webcast/5560/381818
Contact: Anna Guerrero, Global Manager, Webcast Marketing, anna.guerrero@frost.com
