The Bright Side: Opportunities and Challenges in Automotive Manufacturing
Over the past few years, the global rate of automotive manufacturing has been at an all-time high. Despite this success, several factors deprive automotive manufacturers from the pleasure of resting on their laurels. Wonder why? The increasing expectations of the customers from the automotive sector and the mounting competition in the market are some of […]READ MORE >>
Over the past few years, the global rate of automotive manufacturing has been at an all-time high. Despite this success, several factors deprive automotive manufacturers from the pleasure of resting on their laurels. Wonder why? The increasing expectations of the customers from the automotive sector and the mounting competition in the market are some of the key reasons behind this competitive scenario. Cars are no more seen only as a status symbol that they once used to be. Today, automotive manufacturing is more about making machines that are smarter, easier to use, and more connected. Also, with a wide range of competitors in the market, customers are spoilt for choice in terms of the features and design of cars. Therefore, automotive manufacturers are put in a challenging situation when it comes to responding to these changes in the market. But what the players in automotive manufacturing need to do is to figure out ways in which they can turn this adversity into advantage.
Stand out from the rest
What attracts a potential customer first towards a car is its design. This is one of the critical challenges that players in the automotive manufacturing sector face. Companies in the automotive manufacturing sector must ensure that their vehicles are designed to stand out from the crowd and attract more eyeballs from the crowd. Customers of today like things that are unique and give them a sense of value for money. Especially in this very competitive scenario, companies operating in this industry have to continuously re-invent themselves and provide new and varied product offerings to the customers. The pressure from the competition must motivate the automotive manufacturers to develop and maintain a healthy design team.
Except for the designs and very few additional features, the cars on the roads today are very much similar to the ones that were developed a decade or two back. But with companies such as Google and Tesla introducing driverless cars and electric cars, the future of automotive manufacturing holds a lot more potential. These innovations are expected to bring about radical changes in the automotive industry. Therefore, it might look far-fetched and hard to be put into practice on short notice. But in the longer run, automotive manufacturing companies have to experiment with these technologies in their designs to prevent themselves from being considered obsolete or not up-to-date.
Fuel prices are expected to go up in the coming years; this has become a significant concern not only for the customers but also for companies in automotive manufacturing. At this rate, customers are growing more inclined to cars that are most fuel-efficient. Therefore, automotive manufacturers need to focus their efforts on designing vehicles that use lighter materials, have better designs, and are more fuel-efficient. Manufacturers can also aim to create new models of cars with new materials in mind. For this, the design and the manufacturing process need to work hand in hand. For instance, if an automotive manufacturing company wants to experiment with aluminum or lightweight composites, then this must reflect throughout the designs and manufacturing workflow.