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You don’t have to be an expert in the automotive industry to understand that the market situation is not expected to improve in the foreseeable future. Much more
According to a study by the renowned consultancy KPMG, every third top executive of the world’s car companies is confident that in the near future the consequences of the coronavirus, the shortage of parts, as well as inflation and a huge price increase will adversely affect the development of the automotive industry on the planet. At the same time, 83% of the representatives of the groups hope to remain profitable in the next five years. Well, as they say, hope dies last…
Nearly 1,000 executives from major auto companies from three dozen different countries participated in a profile survey by KPMG.
Automotive industry experts are concerned about the disruption to the supply of components and IT equipment, including the infamous microchips that paralyzed almost the entire automotive industry on Earth. In addition, the raw materials for batteries, which are so necessary for both electric cars and cars with traditional combustion engines, are a cause for concern.
Many of the automakers started moving production sites from China, which was hit by the coronavirus pandemic, to sustain auto production, which directly depends on parts production in China and their timely logistics. Japanese Mazda was the first to announce such a move, tired of counting financial losses and reputational damage. 65% of top executives are confident that the return of automotive parts and electronics production to developed countries is one of the most important tools to resume vehicle assembly in the required volume. Although the forecasts up to the end of 2023 cannot be called reassuring.
The same Toyota, which has remained the world leader in car production for several years in a row, officially announced a reduction in its production output of at least 10%. What can I say, if the Japanese have not rebooted a number of sites so far, continue to incur huge losses and even return money to consumers for prepaid cars.
It is not for nothing that 55% of automaker leaders talk about a reduction in sales, which is inevitable in the very near future. We are talking about losing some assets, closing factories and mass layoffs of workers. In fact, the German Mercedes-Benz and Volkswagen have already encountered a similar copy. It’s just the beginning…
Despite the lobbying for electrified vehicles, most car brands believe that the power of the car is still one of the most important factors in a consumer’s purchase of a vehicle. In other words, officials and automakers won’t be able to completely transplant the world to electric cars advertised to “cut back” money. It is noteworthy that 72% of car owners expressed confidence that electric vehicles will not cost more than combustion engine models in a few years.
And eight in ten experts believe that the majority of car purchase transactions will soon be conducted online. Unless, of course, what else can be bought from car products.
According to a study by the renowned consultancy KPMG, every third top executive of the world’s car companies is confident that in the near future the consequences of the coronavirus, the shortage of parts, as well as inflation and a huge price increase will adversely affect the development of the automotive industry on the planet. At the same time, 83% of the representatives of the groups hope to remain profitable in the next five years. Well, as they say, hope dies last…
Nearly 1,000 executives from major auto companies from three dozen different countries participated in a profile survey by KPMG.
Automotive industry experts are concerned about the disruption to the supply of components and IT equipment, including the infamous microchips that paralyzed almost the entire automotive industry on Earth. In addition, the raw materials for batteries, which are so necessary for both electric cars and cars with traditional combustion engines, are a cause for concern.
Many of the automakers started moving production sites from China, which was hit by the coronavirus pandemic, to sustain auto production, which directly depends on parts production in China and their timely logistics. Japanese Mazda was the first to announce such a move, tired of counting financial losses and reputational damage. 65% of top executives are confident that the return of automotive parts and electronics production to developed countries is one of the most important tools to resume vehicle assembly in the required volume. Although the forecasts up to the end of 2023 cannot be called reassuring.
The same Toyota, which has remained the world leader in car production for several years in a row, officially announced a reduction in its production output of at least 10%. What can I say, if the Japanese have not rebooted a number of sites so far, continue to incur huge losses and even return money to consumers for prepaid cars.
It is not for nothing that 55% of automaker leaders talk about a reduction in sales, which is inevitable in the very near future. We are talking about losing some assets, closing factories and mass layoffs of workers. In fact, the German Mercedes-Benz and Volkswagen have already encountered a similar copy. It’s just the beginning…
Despite the lobbying for electrified vehicles, most car brands believe that the power of the car is still one of the most important factors in a consumer’s purchase of a vehicle. In other words, officials and automakers won’t be able to completely transplant the world to electric cars advertised to “cut back” money. It is noteworthy that 72% of car owners expressed confidence that electric vehicles will not cost more than combustion engine models in a few years.
And eight in ten experts believe that the majority of car purchase transactions will soon be conducted online. Unless, of course, what else can be bought from car products.
Source: Avto Vzglyad
Donald Salinas is an experienced automobile journalist and writer for Div Bracket. He brings his readers the latest news and developments from the world of automobiles, offering a unique and knowledgeable perspective on the latest trends and innovations in the automotive industry.
