The automotive industry will undergo radical changes by 2030, says a report by professional services firm PwC. The number of cars in Europe and the U.S. is expected to decrease, while rising in China, according to a press release sent to the Budapest Business Journal.
The report - entitled “Five trends transforming the Automotive Industry” - forecasts a decrease in cars in Europe from 280 million to 200 mln, and in the United States from 270 mln to 212 mln. At the same time, it says road traffic will intensify.
“This is contradictory only at first sight. It is an automotive revolution during which a lot of rules seen as obvious in the last decades will change dramatically,” says Ádám Osztovits, lead partner of the business consulting unit at PwC Hungary.
The report uses the acronym “eascy” to refer to the car of the future as electrified, autonomous, shared, connected and yearly updated.
The most important change is that cost sharing will be increasingly used, according to the report, adding that more than one third of all driven kilometers will be covered in a sharing system by 2030.
Further trends indicate that by 2030, 55% of the cars in use will be electric, while self-driving technologies will improve significantly. In addition, Osztovits says, while roads will be more congested, traffic will be less chaotic due to the developments mentioned above.
The paper was written by Autofacts, a team of PwC industry experts who provide automotive insights and forecasts to clients around the world, the report states.