New business models will rise. knowledge to help our clients excel anywhere in the world. Please see www.deloitte.com/about to learn more. 2022. 2022 Automotive Industry Trends: Doubling Down on Electric and Connected Cars All sub-sectors within the industry are rebounding from the pandemic Demand is growing but the costs of transition to EV are significant Despite OEM brands needing to carefully update their positioning for the EV revolution, marketing spend is falling 2022. Overheated automotive M&A cools down to start 2022 Global automotive M&A cooled down from an active 2021 market with a total deal value of $28 billion for the 2022 YTD period down 62% over YTD 2021. There is hope for the optimistic in the IHS Markit October update as we maintain our 2022 global production outlook despite further near-term. About one-third of the survey respondents . His work focuses on transformation programs in indu More. New entrants are discovering the automotive market, such as for example Lynk&Co, offering memberships for more flexible car usage and for car sharing with family and friends. Find out more about the defining factors, the peculiarities of the Dutch market, and a new perspective on mobility. The study predicts that many vehicles will be permanently online, sending and receiving information via the internet. Dublin, Aug. 02, 2022 (GLOBE NEWSWIRE) -- The "Global Automotive Outlook, 2022" report has been added to ResearchAndMarkets.com's offering . To stay logged in, change your functional cookie settings. Do not delete! Respondents appear optimistic about revenue growth this year: Fifty-four percent expect growth of up to 5%, and 32% expect growth of 5% or more. She previously was a member of the Board of Direct More, Dr. Harald Proff is the Global/DCE/German Automotive Sector Leader. Please enable JavaScript to view the site. However, 2022 could see some breakthroughs. Aug 29, 2022 Automotive industry outlook key takeaways Companies must ensure that business strategies appropriately balance the shift to EVs. The majority is interested in used cars, especially those ranging in price from 7500 to 12500 euros. +++ DO NOT USE THIS FRAGMENT WITHOUT EXPLICIT APPROVAL FROM THE CREATIVE Please see About Deloittefor a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Change your strictly necessary cookie settings to access this feature. Certain services may not be available to attest clients under the rules and regulations of public accounting. They're down 94% for the year as of the market close Thursday and once . Harald brings more than 20 years of experience advising multinational companies. US Automotive Leader karbowman@deloitte.com +1 513 929 3372 Karen Bowman is the US leader for the Automotive Industry, the Deloitte Global CXO Program Leader and is a member of the Deloitte Board of Directors. How Deloitte helped a large fast food company become a leader in sustainability, An Initial Public Offering can take years. In this years study, four key trends emerged across the globe: For more details on these evolving automotive industry trends, download the full report. From September through October 2021, we surveyed more than 26,000 consumers in 25 countries to explore opinions regarding a variety of critical issues impacting the automotive sector, including the development of advanced technologies. This message will not be visible when page is In this years study, four key trends continued to emerge: For more details on these evolving automotive industry trends, download the full report. Companies can focus on three trust initiatives to meet these challenges. Recognising Australias fastest-growing technology companies., Innovating today, for everyones tomorrow, Overcoming new challenges in the battle for trust. Deloittes Consumer Trackerindicates that on a global level, 27% of consumers are planning to buy a car in the first six months of 2022, and 65% of them consider buying a new car. In the Netherlands, with an exploding housing market and most people working remotely from their living rooms over the last two years, many consumers prefer improvements and extensions to their homes. Living our purpose, reshaping our world, making an impact that matters. This box/component contains code 2022 Global Automotive Consumer Study has been saved, 2022 Global Automotive Consumer Study has been removed, An Article Titled 2022 Global Automotive Consumer Study already exists in Saved items. The loading infrastructure remains a point of interest, but is definitely improving. Since March 2020, the world has moved through a collective human experience that is shaping and shifting consumer priorities, purchase behaviours, preferences, and spending decisions. 13 Deloitte Automotive jobs available in Seattle, WA on Indeed.com. However,. Please find our latest results in our interactive dashboard Consumer Tracker to explore additional data by country and age. DTTL (also referred to as Deloitte Global) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Fullwidth SCC. Other factors are typically Dutch, based on Dutch taxation (e.g. Vehicle Production Forecasts ; Market Disruption ; Ultimately, auto manufacturers will bring innovation and creative problem solving to the table in 2022 to address challenges caused by the supply-chain disruption, economic effects of COVID-19 . Due to COVID-19 regulations, many people have been working from home for months and months, so their cars remained in the parking lot. Read our latest commentary, opinion-pieces and advice. This box/component contains code Deloittes Global Automotive team helps automotive companies execute innovative ideas in STUDIO DEVELOPMENT TEAM +++, Telecommunications, Media & Entertainment, Willingness to pay for advanced technologies remains limited, Interest in electric vehicles is driven by lower running costs and better experience, In-person purchase experiences are still preferred by many, Personal vehicles continue to be the preferred mode oftransportation. This message will not be visible when page is activated. Insert Custom HTML fragment. So are they going to buy a new car or for example improve their home? Are you ready? Please see About Deloitteto learn more about our global network of member firms. 2022 Consumer Products Outlook: Rebuilding Trust. Connecting to accelerate our impact on society, Automotive: Outlook and Opportunities for 2022 and Beyond has been saved, Automotive: Outlook and Opportunities for 2022 and Beyond has been removed, An Article Titled Automotive: Outlook and Opportunities for 2022 and Beyond already exists in Saved items. STUDIO DEVELOPMENT TEAM +++. Explore Deloitte University like never before through a cinematic movie trailer and films of popular locations throughout Deloitte University. DTTL (also referred to as "Deloitte Global") does not provide services to clients. The overall lower numbers for car sales in the Netherlands are due partly to the proverbial Dutch thrift, and partly to the pandemic. In 2020, the automotive industry in the United States employed 4.1 million people and contributed $562.2 billion to the country's gross domestic product. Electric vehicles release 54% fewer CO2 emissions into the atmosphere than even the newest gas-powered vehicles. DTTL and each of its member firms are legally separate and independent entities. Consumers can only spend their euros once, and they are extra careful in insecure financial times such as the COVID-19 era. achronis@deloitte.com +1 713 982 4315 Amy Chronis is vice chair, the US Oil, Gas & Chemicals (OG&C) leader, and the managing partner for Deloitte's Houston practice. Insert Custom HTML fragment. For the consumer products (CP) industry, the year ahead will likely be one of strong financial performance. STUDIO DEVELOPMENT TEAM +++, Infrastructure, Transport & Regional Government, Telecommunications, Media & Entertainment, Last mile delivery landscape in the transportation sector, Willingness to pay for advanced technologies remains limited, Interest in electric vehicles is driven by lower running costs and better experience, In-person purchase experiences are still preferred by many, Personal vehicles continue to be the preferred mode oftransportation. The following are the top 10 automotive industry trends expected in 2022. Learn how this new reality is coming together and what it will mean for you and your industry. From September through October 2021, we surveyed more than 26,000 consumers in 25 countries to explore opinions regarding a variety of critical issues impacting the automotive sector, including the development of advanced technologies. Do not delete! That's 2.5% of the GDP. This box/component contains JavaScript that is needed on this page. We offer a global, integrated approach combined with business and industry For 2022, moderate growth is expected to hike sales to 83 million, with global sales expected to reach pre-pandemic levels in 2023 before a big upswing in 2024 and 2025. Hybrids will reach a 40 percent share. Real-world client stories of purpose and impact, Cultivating a sustainable and prosperous future, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. Before the COVID-19 era, around 400,000 cars were sold in the Netherlands each year. Over the past two-and-a-half years . For 2022,. This box/component contains JavaScript that is needed on this page. My focus is the Automotive Industry and as Automotive Lead I have a coordinating role for More, Check which consumers concerns will play future role in transportation modes going forward, Intentions for travel and spending in a post COVID world. What is happening in the Dutch automotive market? Deal volumes were down 55% to 245 deals in YTD 2022 with an average disclosed deal size of approximately $113 million down 16%. When it comes to the first A in CASA Alternative powertrains electric cars are slowly but surely taking over a substantial part of the Dutch automotive market. For information, contact Deloitte Touche Tohmatsu Limited. What consumer trends are driving the auto industry? At Deloitte, our purpose is to make an impact that matters by creating trust and confidence in a more equitable society. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. To learn more about challenges facing the industry and opportunities for growth, Deloitte interviewed 50 senior retail executives for its " 2022 Retail Industry Outlook .". See Terms of Use for more information. DTTL (also referred to as Deloitte Global) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. Insurers are buckled up to accelerate growth in 2022. Will demand for travel look different in the future. Our 2022 Global Automotive Consumer Study provides important insights that can help companies prioritize and better position their business strategies and investments in the year to come. Pre-Owned Vehicle Sales. She previously was a member of the Board of Direct. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (DTTL), its network of member firms, and their related entities. activated.+++ DO NOT USE THIS FRAGMENT WITHOUT EXPLICIT APPROVAL FROM THE CREATIVE Chronis has more than 30 years of experience serving public and private . exceptional ways. While the economic outlook appears promising for the consumer products industry, significant obstacles remain. As trusted advisors, our professionals create an impact that goes beyond the expected. Exceptional organizations are led by a purpose. Please see, Global investment and innovation incentives, Infrastructure, Transport & Regional Government, Telecommunications, Media & Entertainment. Do not delete! The CASA key topics (CASA = Connectivity, Alternative powertrains, Shared mobility, and Autonomous driving) are starting to change the global automotive landscape. STUDIO DEVELOPMENT TEAM +++, Karen Bowman is the US leader for the Automotive Industry, the Deloitte Global CXO Program Leader and is a member of the Deloitte Board of Directors. Lee has nearly 20 years experience in the automotive industry, and is charged with overseeing our OEM distributor network and dealership performance optimisation practice. So obviously, one of the major questions for the industry is: what will 2022 and following years bring? His work focuses on transformation programs in indu More. 2022. This could be an interesting concept for the Dutch, who often prefer low costs to status and ownership. Please enable JavaScript to view the site. Real-world client stories of purpose and impact, Cultivating a sustainable and prosperous future, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. DTTL and each of its member firms are legally separate and independent entities. When the. This message will not be visible when page is activated. Global Light vehicle (LV) sales are expected to reach 80 million units in 2021, up from 76 million in 2020 but still behind 2019 volumes, which reached 90 million. Liability limited by a scheme approved under Professional Standards Legislation. More Jim Thomson US Power, Utilities & Renewables Leader jamthomson@deloitte.com +1 813 230 3714 The connectivity of cars will be a key factor in 2025 and beyond. More Harald Proff Sector Lead Automotive hproff@deloitte.de +49 211 87723184 Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (DTTL), its network of member firms, and their related entities. Lee has experience leading l. Currently, consumers can even lease washing machines or ovens. Apply to Hospitality Manager, Autonomous Vehicle Mlops Lead, Workforce Manager and more! Despite lingering concerns about COVID-19 variants, most insurers expect an accelerating economic recovery and additional digital technology investments in 2022. This message will not be visible when page is In this years study, four key trends continued to emerge: For more details on these evolving automotive industry trends,download the full report. US Automotive Leader karbowman@deloitte.com +1 513 929 3372 Karen Bowman is the US leader for the Automotive Industry, the Deloitte Global CXO Program Leader and is a member of the Deloitte Board of Directors. In this study, we describe the factors influencing the sector leading up to 2030 in the key US, Europe, and China markets. In fact, car sales in the Netherlands havent been this low since 20071 . Learn more Get in touch Dr. Harald Proff Global Automotive Sector Leader hproff@deloitte.de +49 211 8772 3184 Karen Bowman US Automotive Leader karbowman@deloitte.com +1 513 929 3372 We only had weeks. Are you ready to transform the food system? Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (DTTL), its global network of member firms, and their related entities (collectively, the Deloitte organization). The mobility of the future is " eascy" - electrified, autonomous, shared, connected and "yearly" updated. As public transport is relatively expensive in the Netherlands, many consumers prefer a used car to trains and buses. While growth next year will take the sector past 2019 levels, many vehicle makers will still struggle to meet recovering demand amid continuing supply-chain disruptions. . See Terms of Use for more information. And some factors for lower car sales have to do with a new perspective on mobility. Retailers are being disproportionally impacted by the labor deficit since the COVID-19 pandemic. To stay logged in, change your functional cookie settings. Second, there is less urgency than before to replace ones car, new or used. . DTTL (also referred to as "Deloitte Global") does not provide services to clients. We offer a global, integrated approach combined with business and industry knowledge to help our clients excel anywhere in the world. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (DTTL), its network of member firms, and their related entities. In 2020, car sales dropped to 350,000, followed by a further decline in 2021 (323,000). Observations and insights from our global automotive industry experts including: product strategy, technology, production, sales and marketing. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL (also referred to as Deloitte Global) does not provide services to clients. Future editions of the Consumer Tracker will certainly indicate more trends and perspectives. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities.