Global new vehicle sales could face years of falls or stagnation, hurting OEM profits and putting pressure on investment in R&D, technology and jobs, according to a forecast by Automotive from Ultima Media’s new business intelligence unit.
The automotive industry is the second year into what could be years of falling or stagnant new vehicle sales in an almost unprecedented decline at a global level, signalling structural changes across automotive OEMs.
That is according to a forecast by Automotive from Ultima Media, a new global business intelligence unit by the specialist B2B publisher of automotive media, including Car Design News.
The report, ‘Automotive headwinds align into a perfect storm’, foresees significant risks for the industry. This year, most major automotive markets have seen deteriorating economic conditions, including large declines in China. Germany, Japan, the UK and even the US are showing some of the early signs of an imminent recession and this is impacting consumer confidence.
According to Daniel Harrison, automotive analyst at Ultima Media and author of the report, this softening macroeconomic climate exposes OEMs to considerable risk, just at a time when carmakers are under intense pressure to invest in electric vehicles, as well as other technology key to future mobility. The impacts for the global sector are set to be profound, including to R&D and new technology investments. So far this year, OEMs have announced thousands of job losses.
A full copy of the report, ’Automotive headwinds align into a perfect storm’, is available to download below for free by registering or signing in to Car Design News.
Your free registration includes:
Access to motor show and concours coverage, trend and technology reports, design reviews of new and classic concept and production cars, exclusive interviews, regional reports, who’s where, design essays, career resources, design competitions, regular newsletter updates PLUS comprehensive degree show reports from the world’s leading design schools, the CDN archive of sketches, images and articles spanning 20 years of coverage.
If you have already subscribed, please login to your account for access to the report.
ALREADY SUBSCRIBED - Individual, Studio, Student or School
You now need to register your details and sign-in for full access to cardesignnews.com, including free access to this report
“Cars and watches have marked the evolution of technology and to a certain extent, that of design, fashion and society” – Flavio Manzoni
Why 2024’s Milan Design Week was a splendid edition, with car brands sliding into the wider design mix well (with only a few caveats)…
Buttons are making a slight return thanks to revised guidance from Euro NCAP. Drew Smith considers what we lost in the move to screens, and what we might gain from the new rules
