Three out of every four managers in the auto industry think that rising interest rates, inflation, and energy prices will hurt their businesses in 2023. Still, 83% are optimistic that they will be able to grow and make money in the next five years. This is the result of a survey done by the management consulting firm KPMG with more than 900 board members and managing directors of major companies in the automotive industry in 30 countries.
Experts in the automotive industry are very anxious about supplying raw materials and parts, especially semiconductors, electrical steel, and lightweight materials, which are very important for making cars use less gas and have a longer battery range. More than half are "very" or "extremely" worried about this.
Two out of three respondents think that moving manufacturing from emerging markets back to developed countries is "very" or "extremely important" (65%) to the supply chain strategy. More than half of the experts think it is "very likely" or "extremely likely" that their company will sell off strategically unimportant business units in the next few years. That is much more than a year ago (45%).
Eighty-two percent of those who answered think that electric cars will be standard in the next ten years, even if the government doesn't give them any money. But auto executives are less optimistic about how many full-electric vehicles will be on the road worldwide by 2030. Last year, most answers were between 20 and 70%, but now most answers are between 10 and 40%.
More and more people think it will be possible for combustion engines and electric vehicles to have the same costs without subsidies. About 72% of managers believe that electric cars will be less expensive than combustion engines by 2030. Most of the people surveyed accept that Tesla is the market leader in battery vehicles right now, with Audi and BMW coming in close second and third. Apple comes in fourth. A year ago, it was ninth.
People have different ideas about who will be in charge of charging stations after that. Twenty-two percent of the people who were asked think that the suppliers are the best ones to be here. Sixteen percent each goes to independent network operators, oil companies, car manufacturers, and dealers.
Most managers (80%) think that the mileage is either "very important" or "extremely important" when buying an electric car. Second, they don't trust the subject of data protection and data security (74% agree). Low emissions, a good brand image, and a pleasant driving experience all add up to about 70%. Eight out of ten experts think that most people will buy cars online by 2030.
Experts say that the insurance market has a lot of room to grow. For example, 90 percent of those surveyed think that manufacturers will be successful in the insurance market, whether they work with an insurer (46 percent agree) or sell driver or vehicle data to an insurer (44 percent).
Most experts in the automotive industry see the possibility of making more money in the future through monthly subscription fees for software services or other offers as a real possibility. About two out of three people who answered the survey are "very" or "extremely confident" that customers are willing to pay the subscription fees that go with the service. @via KPMG.
