An interesting new survey from KPMG has gauged the attitudes and predicted the trends for the next five years in the UK automotive sector.
The survey revealed that three quarters of the 200 polled senior executives expected that developed and emerging markets will converge by 2025. A similar proportion of the respondents think that fuel efficiency is the key factor that determines consumer purchase choices. In comparison, 96% shared this opinion back in 2009.
The difference is less marked when it comes to eco-friendliness. The latest survey points out that two in three executives believe it is essential for consumers, while two years ago 72% thought so.
Safety and style come next, with both factors cited by 64% of respondents, while ergonomics and comfort both yielded 61%, closely followed by alternative fuel usability, which scores 61%.
Just under half the polled think that consumers’ purchase decisions were influenced by the availability of Internet connectivity in cars.
When asked about their future plans to ensure business growth, over one third of those polled say that developing new products and technologies would be their priority, while 16% would prefer to integrate with other industries and to adopt new business models. Less than 10% claim they would strive for more affordability and 8% say they would focus on brand management.
Finally, more than three in five share the opinion that the automotive sector is likely to converge with the IT, media and entertainment sectors as cars will move towards better connectivity and interactivity.