We are at the precipice of a new frontier in the automotive industry.
With new technology-enabled entrants at every turn, a looming transition from internal combustion engines to electric vehicles, and the old-fashioned term “automobiles” falling under the wider umbrella of autonomous vehicles and mobility—nothing is certain. Companies across the supply chain are planning for, adjusting to, and hedging their bets against the current period of rapid change and growth. The only certainties in the near term are the ongoing labor issues, freight delays, and inflationary and recessionary pressures that continue to plague all industries. These pressures have even more acute impacts given the volatile volume fluctuations, common contractual limitations, and slim profit margins inherent in today’s automotive industry.
To help navigate these transformative but uncertain times, Foley has launched its Auto Trends 2023 Series to guide automotive companies in preparing for the obstacles and opportunities in the year ahead. This limited-run series includes articles on timely topics and will equip decision-makers with the tools to avoid roadblocks to success.
