MUNICH –Car data provide fertile ground for new automotive business opportunities, but industry experts say several issues need to be addressed to realize the new revenue that automotive companies hope will compensate them for an expected longer term decline in new car sales. Participants at a “Monetizing Car Data” conference hosted here by the German Read More..
Consultancy firm McKinsey&Company has come up with a series of recommendations for successful digital transformation for Tier One automotive suppliers, noting that most in this sector have only recently started to develop new digital products, services and processes. It warns that, for example, scaling-up transformative measures can be hard; roadmaps are often either vague or Read More..
Few companies have realized the full potential of digitization of manufacturing at a large scale, a survey by the McKinsey & Company management consultancy has found. Its fourth annual Digital Manufacturing Global Expert study claims that while 92% of the respondents from firms around the world felt that their company was at the forefront of Read More..
China consolidated its lead in electric-vehicle technology last year, building 43 pc of all EVs manufactured worldwide. According to a report by management consultants McKinsey, China also manufactured 25 pc of the world’s fuel cells and 37 pc of all electric motors. “The future of electric mobility is decided in China,” senior McKinsey partner Nicolai Read More..
Internet-of-Things related revenue is set to double in Germany to 23 billion euros a year by 2020 from less than 10 billion euros today, according to a new McKinsey study. The consultants said IT and telecommunications service providers are set to gain business especially from manufacturing industries and the connected car. Industry 4.0, which foresees Read More..
One in three trucks will be able to drive autonomously under certain conditions, according to a new McKinsey study. Driverless technology will account for a sizable chunk of theÂ market growth expected for trucks weighing more than six tons. Sales are forecast to surge to 240 billion euros a year by 2025 from 150 billion euros Read More..
China is expanding its leadership position in electric vehicles, according to two new studies. Germany’s Center of Automotive Management (CAM) said carmakers sold 170,000 EVs in China in the first six months of 2016, compared with 66,000 in the US, 22,000 in Norway and 16,000 in France. EV sales rose in each of these countries, Read More..
European consumers are heavily invested in digital technologies, but the continentÂ is far removed from realizing the full potential of digitization. That is one of the conclusions from a new study by the McKinsey Global Institute, a think tank affiliated with the McKinsey management consultants. The study found that 83 pc of Europeans have internet in Read More..
The arrival of autonomous vehicles will fundamentally change the automotive industry and car drivers, automotive companies and other personal mobility players should start preparing today already, a new report from management consultants McKinsey says. “Although it will take a bit of time before we will see self-driving carsÂ in bigger volumes on the streets, automakers should Read More..
China needs to boost sales of range-extended electric vehicles, rather than focus too heavily on pure EVs, according to McKinsey. In a study of the Chinese EV market, the strategy consultants say it will be at least 10 years before pure EVs become a commercially attractive alternative to combustion-engine-powered cars. EVs with range extenders, on Read More..