Automotive companies face an unprecedented set of challenges. Instead to comply, they should branch out to discover new value in three areas:
- New ways to do business (new carmaking),
- Adjusting vehicles to new requirements (new cars) and
- Offering new services that consumers value (new business).
A proactive stance will enable automotive OEMs and suppliers to increase profits and reduce risk in challenging times like these.
This article was modified and published in an updated edition in April 2016.