It is a challenging time for automotive industry executives. It is also an exciting one.
The global car industry is experiencing massive upheaval and uncertainty. A powerful set of forces are converging. New players are turning traditional business models upside-down. New technologies with far-reaching implications are cresting the hill. A sea-change in consumer behaviour is shaking-up and disorientating a sector once used to calling all the shots.
Individually, these forces present a real danger to businesses that don’t respond appropriately. Combined, they present a very serious threat indeed. But if properly harnessed, they have the potential to deliver big rewards.
Automotive manufacturers are working hard to get it right. They are embracing innovation and digital transformation in a bid to remain relevant. However, managing risk is part of established car-makers’ DNA, which is a problem because innovation is associated with taking risks. And while car-makers are putting in place strategic