Challenges Facing the Automotive Industry Now and in the Future

Executive Summary

The next decade may be the most exciting for the automotive industry, with carmakers, suppliers, and consumers all witnessing changes and advancements coming at breakneck speed. In fact, there will likely be more development of new technologies to power vehicles, make them safer and offer more conveniences and services in the next 10 years than in the previous 50 years. Battery-electric powertrains are rapidly gaining momentum, driven not only by government mandates and hefty industry spending but also by the surge in petroleum prices. New driver assistance technology, as well as autonomous vehicle systems, promise to make driving easier and safer, while also reducing traffic congestion.