The global automotive industry is expected to clock in ~95 million units of sales by the end of 2017, and will breach the 100 million mark by 2019. While the numbers certainly look encouraging, compared to the downslide the industry has been witnessing over the last few years, the automakers face the looming threat of missing the growth should they fail to adapt themselves to the new trends. Moreover, these would certainly not be driven by customer demand alone.
Automotive Industry needs a transformation ‘Rx’.
The questions, what next? and what will the car of the future look like? are perennially recurring questions in the auto industry and have never been more relevant than they are right now. While the cars of today have made huge leaps and bounds since the days of Ford’s Model T, the auto industry is at the cusp of a never before witnessed revolution.
The consumer behaviour is evolving at a pace faster than ever, be it choosing accessibility over ownership, evolving lifestyles, digital adoption & connectedness, commuting habits or the need for customised solutions. The car of tomorrow is likely to be a product of convergence and seamless integration of complex software and hardware solutions. The Industry is witnessing not only stricter government regulations on safety and environment, but also societal changes with an inherent need to reduce pollution and traffic.