Auto components India - - EDITORIAL - Bhar­gav TS Ex­ec­u­tive Ed­i­tor s.bhar­gav@nextgen­pub­lish­

The au­to­mo­tive in­dus­try is a sec­tor of fast de­vel­op­ments and changes. Last year was no ex­cep­tion, as in 2017 the in­dus­try pressed the pedal to ac­cel­er­ate the tech­no­log­i­cal ad­vance­ments on di­verse fronts of safety, driver as­sis­tance, reg­u­la­tory re­forms, elec­tri­fi­ca­tion, and shared mo­bil­ity. As tech­nol­ogy is not the only fac­tor that is chang­ing, a deep dive into the un­fold­ing auto in­dus­try trends pro­vides in­sight into how our ev­ery­day lives will be dif­fer­ent in the com­ing years. There­fore, from analysing the new trends what the ex­perts ex­pect to see in 2018 is go­ing to be fas­ci­nat­ing for car­mak­ers, com­po­nent sup­pli­ers, and the con­sumers.

Chang­ing con­sumer pref­er­ences, tight­en­ing reg­u­la­tions, and tech­no­log­i­cal break­throughs add up to a fun­da­men­tal shift in in­di­vid­ual mo­bil­ity be­hav­iour. Peo­ple use mul­ti­ple modes of trans­port to com­plete their jour­ney. Goods and ser­vices are de­liv­ered to, rather than fetched by con­sumers. The tra­di­tional busi­ness model of car sales will be com­ple­mented by a range of di­verse, on-de­mand mo­bil­ity so­lu­tions, es­pe­cially in the dense ur­ban en­vi­ron­ments that proac­tively dis­cour­age pri­vate car use.

Con­sumers to­day use their cars as all-pur­pose ve­hi­cles. In the fu­ture, they may want the flex­i­bil­ity to choose the best so­lu­tion for a spe­cific pur­pose, on de­mand and through their smart­phones. We can see early signs of the de­clin­ing promi­nence of pri­vate car own­er­ship in the suc­cess of Olas and Ubers. Be­cause of this shift to mul­ti­ple mo­bil­ity so­lu­tions, in 10 years, up to one out of ten new cars on the road may be a shared ve­hi­cle im­pact­ing sales of ve­hi­cles for per­sonal use.

To meet the grow­ing de­mand from the cus­tomers and gov­ern­ing bod­ies, the tra­di­tional play­ers of the In­dian au­to­mo­tive in­dus­try will need to be more open, ag­ile, innovative, and able to learn and adapt to the fast-chang­ing mar­ket trends. Im­ple­men­ta­tion of these con­cepts re­quires a par­a­digm shift in many ar­eas. Changes in organisational cul­ture and even struc­ture, man­age­ment prac­tices, and in­ter­nal and ex­ter­nal com­mu­ni­ca­tion are in­evitable. A more in­te­grated ap­proach will have to be ap­plied to all the tra­di­tional busi­ness pro­cesses, con­tribut­ing to new ways of prod­uct in­no­va­tion and de­vel­op­ment. Like you all, even I am fa­ci­nated to see how this year is go­ing to progress.

Wish you all Happy and Pros­per­ous New Year.

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