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Three Mega Trends – Is India's Automotive Industry Prepared?

The history of the automotive industry has been one full of disruptions and churn. But the industry has also been one that believes in the wisdom: When life gives you churn, make butter.

Whether it is assembly-line production, advancements in combustible engine (CE) technology, or the introduction of autonomous and connected cars, the automotive industry has a history of turning every challenge, every adversity into an opportunity.

The last few years have been particularly tough on the industry. Wild swings in crude oil prices, stricter regulations, supply-chain disruptions due to trade conflicts; a host of such challenges and more have impacted the industry’s growth curve. As a result, the year 2019 ended 10 years of continuous growth – global car sales fell by 4% and production by 5%. India’s industry fared no better where car sales declined even further by 12%.

Then the mother of all challenges – a once-in-a-century pandemic – hit us in 2020. Automotive was among the worst-hit industries. Stakeholders say that the pandemic set back the Indian auto industry by about four years. Global OEMs, even though helped by a recovery in the final three months of the year, still posted a double-digit decline in sales in 2020.
True to its grit, the auto industry has responded to these challenges by bringing out the big guns of innovation during the last few years.
Electrification, car connectivity and autonomous driving have been some of the major tech innovations that offer immense hope for this resilient industry in the coming years.
Three Mega Trends - Electrification, Digitization, and a perceptible shift from public transit and shared mobility. At DMI we will dive into this topic. What are the megatrends in the auto industry, how they portend to transform the global industry, and how prepared the Indian auto industry is in not only adjusting to these trends but also leveraging them for future growth?

Dynamic Manufacturing India Magazine Description:

Dynamic Manufcaturing India is B2B Magazine targeted to Machine tool manufacturers ,Machine tool users , and Manufacturing Industry . It talks about latest trends in manufacturing sector in india as well as global technology .