Study: Innnovative mobility services to grow disproportionately fast

Study: Innnovative mobility services to grow disproportionately fast

Market news |
By Christoph Hammerschmidt

By 2030, sales in the worldwide automotive industry will almost double from $3.4 trillion today to $6.6 trillion, the McKinsey study says. This corresponds to an annual increase of 4 to 5%. New technologies and mobility options such as mobility services, autonomous driving or electric drives will account for around a quarter of total sales – today their share is less than 1%. Traditional revenues such as vehicle sales (40% of sales) or service and maintenance (19%) nevertheless remain important. These are the most significant results of the latest study “The automotive revolution is speeding up – perspectives on the emerging personal mobility landscape” by management consultants McKinsey & Company.

“The automotive industry can have a golden future if it accepts the disruptive changes. Above all, the ability to deal with the existing uncertainty is most in demand,” says Andreas Tschiesner, head of the European automotive consultancy at McKinsey. New technologies such as autonomous driving, e-mobility or data-based services open up the industry to new players. Tschiesner:”At the same time, many of the necessary framework conditions have not yet been clarified, for example in the case of autonomous driving or the infrastructure for electric cars.”

Traditional manufacturers are adapting to the new world of mobility: 80% of the major manufacturers, for example, have announced their intention to develop highly automated vehicles by 2025. “We will experience an interplay of new technology providers with existing car manufacturers and suppliers,” says Timo Möller, head of the McKinsey Center for Future Mobility and co-author of the study. In many fields of the future, the traditional automotive industry is well-prepared for the future: for example, manufacturers and car rental companies can contribute their fleet management and service expertise to car sharing.

A further conclusion of the study is that no car manufacturer can build up all the required core competencies and raise the necessary investment funds of more than 70 billion US dollars alone to play a leading role in all fields. “The competence to manage partnerships will be decisive for future success”, Möller comments. “It will be important for car manufacturers and suppliers to focusing on new forms of cooperation – including unconventional ones – with technology companies and competitors without neglecting the still strong traditional business of new car sales, service and maintenance.”

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