The Challenges of the 21st Century: Revolutions in Global Markets, Regulation and Customisation

Success in the 21st Century automotive industry will be decided by how manufacturers and suppliers respond to three major challenges. Firstly, global markets will mean that the rewards for success will be greater than ever, and the cost of failure will be enormous. That means delivering corporate flexibility, total quality in manufacturing and processes and increased investment in Research and Development. Speed to market will become ever more important and there will be less and less room for margins of error. Secondly, increased regulation and even taxation will be used to focus attention on both global warming and on safety. Standards will be used both to protect the planet, but also to protect markets from competition. Producers will be expected to deliver products that meet not only consumer needs but also more broad based societal needs, needs that will differ from market to market. Finally, increasing technological sophistication and consumer purchasing power will lead to increasing demands for more tailored products. Meeting that challenge while keeping costs low and quality high will be vital for success. This presentation explores each of the three challenges and suggests ways for leaders in the automotive industry to deliver success against this backdrop of increased challenges.