The automotive industry is a growth industry. It has broken record after record in recent years, with no end in sight. Sales and production in China are booming. On the other side of the globe, a strong recovery in the US continues to surpass expectations.

But along with record growth, the industry is also facing unprecedented challenges:

Demographic changes and profound shifts in global economic power are causing massive upheavals in demand.
Consumer expectations are changing radically.
New technologies are dramatically changing vehicles, from the advent of the ‘connected car’ and enhanced driver support to better fuel efficiency and new or improved powertrains.
Automotive manufacturers and suppliers are confronted with increasing complexity as a result of increasing numbers of products and options, shorter technology cycles, increasing pressure to innovate and global supply networks.

And at the same time they need to balance the needs and demands of customers, investors, regulators, non-governmental organisations (NGOs) and the public. But without pressure, there would be no diamonds. Tough competition makes efficiency, inventiveness, flexibility and decisiveness mandatory. What are some of the keys to success in this fast-moving environment?

Know your markets
Build the brand
Adapt production strategies
Take a long-term view