The global commercial vehicle industry is at an important crossroad with globalization, technology development, regulations and emerging markets set to
change the face of the industry in the next decade.
That’s the word from officials with Ernst & Young’s Global Automotive Center.
Ernst & Young is one of the world's leading professional services organizations that helps companies across the globe to identify and capitalize on business opportunities.
Participants in the global commercial vehicle industry are faced with an “interesting dilemma,” with demand in TRIAD markets stagnating and emerging markets demanding more attention, they say. “Consequently, stakeholders throughout the industry are likely to be significantly impacted by rapidly changing events across the ecosystem – from the preferences of fleet operators or managers, to distribution channels and supply chains.”
Ernst & Young has identified six mega trends that will impact the revenues, costs and profitability of participants in the global commercial vehicle industry. They are:
1. Truck owners are demanding technology solutions enabling greater transparency.
2. Regulations are driving changes for truck owners and OEMs.
3. OEMs are expanding their geographical footprint and reviewing operational efficiency.
4. OEMs are increasing their “glocalization” and are offering customized value-added services.
5. Suppliers are offering innovation and operational flexibility, and are entering new product/service markets.
6. Globalization and economic uncertainties are exposing the industry to supply chain, manpower and economic risks.
While nothing if ever certain about the future, you can be sure that only time will tell what the next decade will actually bring