Automakers are embarking on an aggressive electrification, vehicle connectivity and digitalisation strategy in 2020 while shared mobility takes a back seat
LONDON, Feb. 3, 2020 /PRNewswire/ -- The automotive industry is arguably the most significant pillar of the global economy on the strength of its overall contribution. The sector plays a unique role in bringing together most of the major scientific and technological advancements around the globe and is critical to fuelling growth and performance levels of international businesses.
In a new webinar, "What's Driving the 2020 Global Automotive Industry?", taking place on Tuesday, 11 February 2020, at 10 A.M. EST/3 PM GMT, Sarwant Singh, Senior Partner at Frost & Sullivan, will provide a strategic outlook for 2020 and explain the predominant challenges facing the industry and its players that could potentially hinder market growth.
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"2019 was a disappointing year for the automotive industry, but we will see a rebound in 2020, with car companies pushing electrification, next-generation connectivity features, digitalisation across its value chain, and an evolution from being car companies to tech companies," Singh said.
The launch of online sales platforms is poised to redefine automotive retailing. It is just one factor driving the high rate of new vehicles sales around the globe, which is expected to continue to grow in 2020.
"Alternative forms of vehicle ownership, including subscriptions and fleet services, will be a critical part of an automotive OEM's bottom line and, thus, it is vital that carmakers focus their efforts on rendering this proposition increasingly attractive to customers," Singh continued.
Connected, electrified, autonomous and modular vehicle architectures are expected to be key requirements for Gen Z customers. These will be ever-more critical parameters to satisfy for future car buyers.
This webinar will be recorded and available for on-demand viewing at http://frost.ly/1ti.
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For further information, please contact:
Kristina Menzefricke
Frost & Sullivan
T: +(44) (0)20 8996 8589
kristina.menzefricke@frost.com
