Outlook of the Global Automotive Industry in 2015 : Market to Surpass 91 Million and New Vehicle Segments to Evolve
LONDON, May 14, 2015 /PRNewswire/ -- Bold Predictions for 2015
The global automotive market is expected to surpass million units sales driven by driven by growth in the western world which will offset the slowdown in the emerging markets.
Collapse of the D segment and rise of C and Small and Compact SUV segment.
Women as a customer to become prominent.
Mercedes Benz could overtake Audi and achieve the number 2 position in premium vehicle market.
Hybrids to gain share, followed by EVs and hydrogen.
Connected car definition to go beyond the vehicle to connected living, and entry of new participants such as Google and Alibaba to cause nightmares to OEMs.
Digital retailing of parts, service, and sales of cars to accelerate. Online sales launched by OEMs including BMW, Renault, and Volvo to compete with Daimler and Dacia.
Global policy makers to support legislation change and testing for placing autonomous cars on roads.
India could be the dark horse as low fuel prices and economic growth spurs % automotive growth.
Volume OEMs to push entry into the mobility space as participants such as Ford, Toyota, and Nissan expand their presence.
Disruptive Trends in 2015
The year 2015 will witness the evolution of new segments, with OEMs moving from the integration of 2 segments to a trifecta proposition that merges 3 distinct segments. More than models are expected to be launched in 2015.
The automotive industry to lose weight – an average of x kilogram (KG) per car. Lightweighting will be a game changer with multi-material technology taking center stage to meet CO2 regulations.
The year 2015 will see the re-emergence of sports cars – this will fast-track mass commercialization of future technologies such as lightweighting, advanced automotive IT, and advanced powertrain.
Industry and consortia cooperation looks beyond the roadblocks ahead of automated driving and cooperative driving – by envisioning a roadmap for intelligent mobility to reduce pollution, congestion, and road fatalities.
Women to be a key target market – the top 10 OEMs (Fiat, Renault, Porsche, as well as Tesla) will launch to vehicle models by the end of 2015 with the intent to bring a new audience on-board.
Automotive sales growth to peak in 2015 as aging cars in the US (average age of cars 13 years) and Europe (average age of cars 9 years) drive replacement cycles.
Key Highlights of 2014
Global automotive market hit million units sales.
Two Major OEMs (Toyota and Volkswagen) crossed the million mark in 2014.
The year 2014 set a new record for recalls. More than million vehicles were recalled in the US.
Clear strategy from non-automotive participants such as Google, Apple, and Alibaba in the connectivity, retailing, and autonomous driving space.
The year 2014 witnessed the entry of volume OEMs into the mobility space with comprehensive mobility offerings (such as Ford), while existing premium OEMs expanded their footprint.
The year 2014 witnessed appointment of women leaders (CXOs) within the automotive industry, for instance, GM, Citroen. Women are also heavily influencing automotive purchases. Over x % of license holders in North America are women.
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