As an automotive parts or components manufacturer, you may be both encouraged and challenged by a growing number of trends in the automotive marketplace. From disruptive trends in product developments—such as electric vehicles, advanced assistance and safety capabilities, and driverless vehicles—to trade tariff increases, regulation changes, and higher interest rates, it’s apparent that change is in the air.
Production trends show that manufacturing of most motor vehicles is on the rise—at least for SUVs, crossovers, pick-up trucks, and commercial trucks. Conversely, production is down for cars and medium-duty trucks. Ford surprised some when it announced scaling back significantly on its car offerings, continuing production on only two car models in order to focus more attention on its SUVs, crossovers, trucks, and commercial vehicles.
How these trends will shape the future of the automotive industry and the manufacturers that supply them remains to be seen. As an industry insider, you know that multiple factors can add up to affect the automotive industry in complex ways. New trends and the risks, opportunities, and challenges associated with them were examined recently during a presentation hosted by Today’s Motor Vehicles1 and sponsored by Epicor® Software. Read on for an overview of what’s shaping today’s auto vehicle industry.
About Encompass Solutions
Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers and Distributors. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, and renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.
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