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Automotive Industry:Europe: Difference between revisions
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=== <big>Moody's August 2023</big> === | === <big>Moody's August 2023</big> === | ||
==== Market Share ==== | |||
Market share data suggest that European OEMs’ leadership position is being challenged as new entrants, especially from China, gain traction. Our analysis also suggests that European market conditions for local development and production are becoming less competitive.<ref name=":0" /> | Market share data suggest that European OEMs’ leadership position is being challenged as new entrants, especially from China, gain traction. Our analysis also suggests that European market conditions for local development and production are becoming less competitive.<ref name=":0" /> | ||
[[File:Screenshot 2023-09-05 110336.png|center|thumb|635x635px|<ref name=":0">https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/a-road-map-for-europes-automotive-industry#/</ref>]] | [[File:Screenshot 2023-09-05 110336.png|center|thumb|635x635px|<ref name=":0">https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/a-road-map-for-europes-automotive-industry#/</ref>]] | ||
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* Besides market share, European OEMs also face the challenge of running profitable BEV businesses. | * Besides market share, European OEMs also face the challenge of running profitable BEV businesses. | ||
* '''In the premium segment, European OEMs still hold 71 percent of global sales'''. But this segment is also becoming more challenging to hold: '''newcomers claimed 18 percent of the premium market in 2022.''' | * '''In the premium segment, European OEMs still hold 71 percent of global sales'''. But this segment is also becoming more challenging to hold: '''newcomers claimed 18 percent of the premium market in 2022.''' | ||
==== Supply Chain ==== | |||
Research shows that successful automakers are developing cars defined by software, resulting in a '''tripling of software content per vehicle since 2015'''. As a result of this shift toward more centralized computing, portions of vehicles may become commoditized, and scale and incremental improvements may become the main drivers of competitiveness. | Research shows that successful automakers are developing cars defined by software, resulting in a '''tripling of software content per vehicle since 2015'''. As a result of this shift toward more centralized computing, portions of vehicles may become commoditized, and scale and incremental improvements may become the main drivers of competitiveness. | ||
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To counteract recent developments and establish a robust supply network similar to Europe's during the ICE era, major players in the industry are forming strategic partnerships. These partnerships aim to ensure access to essential resources and manufacturing capacity, particularly for batteries and semiconductors. Some established companies intend to enhance their influence over crucial parts of the value chain by collaborating with mine operators or investing in mining operations. However, d'''espite these initiatives being a positive step, the projected supply and capacity are still insufficient to meet the region's anticipated demand by 2030.''' Therefore, there is a pressing need for accelerated efforts in this direction. | To counteract recent developments and establish a robust supply network similar to Europe's during the ICE era, major players in the industry are forming strategic partnerships. These partnerships aim to ensure access to essential resources and manufacturing capacity, particularly for batteries and semiconductors. Some established companies intend to enhance their influence over crucial parts of the value chain by collaborating with mine operators or investing in mining operations. However, d'''espite these initiatives being a positive step, the projected supply and capacity are still insufficient to meet the region's anticipated demand by 2030.''' Therefore, there is a pressing need for accelerated efforts in this direction. | ||
[[File:Screenshot 2023-09-05 112653.png|center|thumb|627x627px|<ref name=":0" />]]'''European automotive OEMs and suppliers earn about three times the revenue of their Chinese counterparts and five times the EBIT, which means the European industry can act from a position of strength'''. In short, the ecosystem approach that made Europe strong in the ICE era has to be translated to serve the era of software-defined, electrified cars. A rapid response from OEMs and suppliers in the European auto industry will be important. But other stakeholders—including adjacent industries such as the energy, research, and public sectors—would also need to act collaboratively to provide an environment that enables success for the European automotive industry (and mobility ecosystem) of the future. In short, the ecosystem approach that made Europe strong in the ICE era has to be translated to serve the era of software-defined, electrified cars. | [[File:Screenshot 2023-09-05 112653.png|center|thumb|627x627px|<ref name=":0" />]] | ||
==== Road Map For Competitiveness ==== | |||
'''European automotive OEMs and suppliers earn about three times the revenue of their Chinese counterparts and five times the EBIT, which means the European industry can act from a position of strength'''. In short, the ecosystem approach that made Europe strong in the ICE era has to be translated to serve the era of software-defined, electrified cars. A rapid response from OEMs and suppliers in the European auto industry will be important. But other stakeholders—including adjacent industries such as the energy, research, and public sectors—would also need to act collaboratively to provide an environment that enables success for the European automotive industry (and mobility ecosystem) of the future. In short, the ecosystem approach that made Europe strong in the ICE era has to be translated to serve the era of software-defined, electrified cars. | |||
[[File:Screenshot 2023-09-05 115416.png|center|thumb|580x580px|<ref name=":0" />]] | [[File:Screenshot 2023-09-05 115416.png|center|thumb|580x580px|<ref name=":0" />]] | ||
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[[File:Screenshot 2023-09-08 115747.png|center|thumb|549x549px|<ref>https://www.allianz.com/content/dam/onemarketing/azcom/Allianz_com/economic-research/publications/specials/en/2023/may/2023-05-09-Automobile.pdf</ref>]] | [[File:Screenshot 2023-09-08 115747.png|center|thumb|549x549px|<ref>https://www.allianz.com/content/dam/onemarketing/azcom/Allianz_com/economic-research/publications/specials/en/2023/may/2023-05-09-Automobile.pdf</ref>]] | ||
==== | ==== Scenario: China gaining Market share ==== | ||
''Chinese brands capture 75% of their domestic market and China-made cars 10% of the European market by 2030'' | ''Chinese brands capture 75% of their domestic market and China-made cars 10% of the European market by 2030'' | ||