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A extended-time period eyesight for the European automotive sector

Technological disruption is redefining mobility globally. How can Europe capitalize on its past successes to form the emerging mobility ecosystem and craft an even additional productive upcoming?

The European automotive sector has ascended to the leading of the worldwide industry. It has attained file revenue, and—as a main employer and a supply of significant grantmaking—it is an integral element of European culture. Essential changes in the business, nevertheless, are threatening Europe’s lead placement.

To notify the discussion, we undertook a study examining the potential of Europe’s automotive sector. The exploration drew on proprietary information and analysis from the McKinsey Center for Long term Mobility, interviews with automakers’ executives and members of the European Car Manufacturers’ Affiliation, and conversations with stakeholders in critical automotive associations. Our findings are offered in our new report, RACE 2050—a eyesight for the European automotive sector, which imagines the field as a Responsible Automotive Shopper-centric Ecosystem (RACE).

The report alone is structured in a few sections. The first looks at unparalleled changes in the European automotive marketplace, the 2nd at a lengthy-time period eyesight for the sector, and the 3rd at five clusters of initiatives that could aid deliver on the eyesight. The remainder of this write-up focuses on the potential eyesight and what it will acquire to ride the wave of technological megatrends redefining mobility.

Setting the eyesight

To maintain Europe’s management position in the world wide automotive sector, a compelling narrative for the prolonged-phrase eyesight of the European automotive sector is needed. Incorporated in this narrative is a apparent comprehending of the constructing blocks of the eyesight for 2050 (see sidebar, “Building blocks for the marketplace in 2050”).

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