Driving The Automotive Industry Into The Future

PwC’s survey highlights the capabilities and strategies automotive companies must develop to gain a distinct advantage in the years ahead.

The takeaways

• The automotive industry’s competitive set extends beyond traditional automakers. Some 46% of executives expect significant competition from new entrants in adjacent industries. 
• Automotive executives expect 33% of revenue to come from new customers in five years, while products, channels, and growth markets are also changing markedly. 
• Despite strong confidence among automotive executives, critical gaps remain in AI, software, cultural change, and reskilling. Automakers will need to become ‘future fit’ to effectively compete. 

The challenge