Automated driving will be the next technology to change the auto industry
Battery electric vehicles (BEVs) have overtaken connectivity and digitization as the top trend in the industry until 2025, according to half of the automotive executives surveyed in KPMG’s 2017 Global Automotive Executive Survey.
However, the key issue with pure battery electric vehicles seems to be setting up a user-friendly charging infrastructure, leading the majority (62 percent) of executives to believe that BEVS will ultimately fail. In contrast, 78 percent of executives believe that BEVs will be overshadowed by fuel cell electric vehicles (FCEVs) in the future, with FCEVs solving the recharging and infrastructure issues BEVs face today.
In addition, the survey shows that autonomous driving will revolutionize the way we use cars and make the purchasing criteria of the past irrelevant. Indeed, 68 percent of executives already feel that the purchasing criteria of the past like performance and speed, safety innovation, environmental friendliness or comfort will not determine the purchase of a car anymore.
Other key findings from KPMG’s 2017 Global Automotive Executive Survey include:
“Connectivity and digitization are making our driving experience similar to what we expect in all other aspects of our lives. It’s a lot more convenient for consumers, significantly improving our time in the car. It has also been a catalyst in the financial success being enjoyed by the auto industry. New cars are making older models almost obsolete.”
- Peter Hatges, National Sector Leader, Automotive, KPMG in Canada
About KPMG's 2017 Global Automotive Executive Survey
The Global Automotive Executive Survey is KPMG International’s annual assessment of the current state and future prospects of the worldwide automotive industry. In this year’s survey, almost 1,000 senior executives from the world’s leading automotive companies were interviewed, including automakers, suppliers, dealers, financial services providers, rental companies, mobility services providers, and companies from the information and communication technology (ICT) sector. Additionally, more than 2,400 consumers from around the world have been surveyed to provide valuable perspective and compare their opinion against the opinion of the world’s leading auto executives.
KPMG LLP, an Audit, Tax and Advisory firm (kpmg.ca) and a Canadian limited liability partnership established under the laws of Ontario, is the Canadian member firm of KPMG International Cooperative (“KPMG International”). KPMG member firms around the world have 189,000 professionals, in 152 countries.
The independent member firms of the KPMG network are affiliated with KPMG International, a Swiss entity. Each KPMG firm is a legally distinct and separate entity, and describes itself as such.
National Manager, Communications
KPMG in Canada