Today's economies are dramatically changing, triggered by development in emerging markets, the accelerated rise of new technologies, sustainability policies, and changing consumer preferences around ownership. Digitization, increasing automation, and new business models have revolutionized other industries, and automotive will be no exception. These forces are giving rise to four disruptive technology-driven trends in the automotive sector: diverse mobility, autonomous driving, electrification, and connectivity.
A mere four years after overtaking the U.S. as the world's largest car market, China's automotive industry has arrived at an important inflection point. The days of growth rates above 20 percent are over, and rates may dip as low as 6 percent by the end of the decade. Several factors are driving this shift.