Q1 2024 North America & Europe Auto Industry Report: Volumes & Financials, OEM Strategy & EV Adoption, Supplier Outlook, Adapting to the Road Ahead

June 14, 2024

Our Q1 2024 report provided a comprehensive analysis across several key areas: Volumes & Financials, OEM Strategy & EV Adoption, Supplier Outlook, and Adapting to the Road Ahead. Drawing from extensive surveys and industry data, here are the insights:

OEMs are advised to brace themselves for heightened pricing pressures amidst ongoing high interest rates and a reluctance among consumers to purchase new vehicles. Concurrently, suppliers are urged to confront the reality of unsustainable profit margins, prompting the initiation of rigorous negotiations with OEMs. Recognizing the pivotal role of convenience in driving the next wave of electric vehicle (EV) adoption, OEMs are encouraged to make substantial investments in charging infrastructure. Meanwhile, suppliers should prepare for potential fluctuations in demand as OEMs navigate the intricate landscape of the EV market.

With traditional avenues for improving commercial margins largely exhausted, suppliers are advised to explore a diverse range of operational measures. Tactically, efforts should focus on streamlining overheads, simplifying operations, unlocking capital, optimizing manufacturing processes, and fostering both agility and stability.

Operationally, investments in human capital and robust operational fundamentals are emphasized as strategic imperatives that promise enduring dividends.

We are eager to delve deeper into these topics in our upcoming reports and are available for direct discussions to further explore these insights.

Seraph is pleased to share the webinar of our quarterly industry report—an insightful discussion about the prevailing trends shaping the automotive sector. During this webinar, Seraph’s CEO and Seraph Europe’s President will provide an outline of the report, accompanied by engaging interactions with fellow leaders who participated in the discussion.

 

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