June 2014
Featured in this insight: Automotive, International
Survey shows 71 per cent of global automotive executives are positive for 2014: A survey conducted on global automotive executives has highlighted a generally positive outlook for the industry in 2014.
The research, which was done by Just-Auto, shows that just over seven out of 10 (71%) respondents have a confident view for 2014 - 43% said they were “quite positive” and 28% stated they were “very positive.” Just 5.6% thought their company faced decline this year.
When asked what they thought their biggest challenge would be, 41% responded with the recession, just over one fifth (21%) said the rising cost of raw materials, 19% thought oil price shifts and 20% believed industrial disputes posed a genuine threat.
Just over half (51%) of those surveyed expected reducing costs would be their biggest challenge for the year, with 62% tipping profitability as their main test.
Elsewhere, 84% of respondents predict fully electric vehicles will struggle to gain market acceptance in 2014, with seven out of 10 anticipating that hybrids will gain market acceptance.
And, finally, 71% of the global automotive executives questioned thought autonomous or self-driving cars would be available by 2025, with just over one quarter (25.9%) believing they could be introduced by 2020.
David Leggett, managing director of Just-Auto, said: “The global automotive market is growing bigger year on year, shifting around 80 million units per annum now. This growth is reflected by the confidence of automotive industry executives - the majority of whom believe the industry will continue to grow this year."
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