Auto Finance Sponsored by Auto Finance News Industry leaders predict the future of auto in new report Published: 17th January 2025 Share China will supersede Germany as the principal player in the global automotive industry by 2040 thanks to their control of the entire EV supply chain, with only Tesla able to give them a run for their money. Meanwhile, brand will become the critical weapon in the fight for market share as EV platforms become more homogenous, though some manufacturing giants face a battle for survival if they are unable to adapt to a changing market. These are some of the key views contained in a new report, Vision 2040, which asks 20 senior automotive leaders in a series of face-to-face interviews to predict how the industry will look in 15 years’ time. On technology, there is broad agreement that the advent of software-defined vehicles will turn OEMs into tech companies first, manufacturers second, with vehicles being updated through software rather than design changes. But there is less agreement about whether batteries or hydrogen will eventually win the energy battle, or whether they will co-exist across different segments. The fact that there will be further consolidation across all areas of the industry is widely accepted, while recent trends towards increased globalisation could go into reverse. The report has been produced by Ennis & Co Group, the global automotive executive search and talent research specialists, to provide expert insights on the transformation taking place in the industry and the leadership skills that will be required to navigate the changes. The 20 leaders were chosen for their expertise across a range of areas across the automotive industry, including OEM, national sales company, retail, supply chain and R&D. Their views on the future coalesce into 10 key themes: China; globalisation vs localisation; technology; energy; infrastructure; sustainability; brand, everyday use vs luxury; customer experience; and consolidation. On the broader subject of leadership, the experts also discuss the qualities required by today’s leaders and how best to develop future leaders. Lynda Ennis, Co-Founder and CEO of Ennis & Co Group, said: “The idea for Vision 2040 came out of a team discussion we were having about how much the automotive industry has changed in the 15 years since Ennis & Co was established. That set us thinking about how things might look 15 years from now.” “We’re very grateful to everyone who took time out of their very busy lives to give their valuable insights and I hope the report helps to make some sense of the technological and commercial changes that are already well underway in the industry. “As an executive search specialist, I am particularly interested in the leadership that will be required to choose the right strategic path in a period of so much uncertainty and unpredictability. “For me, one of the key takeaways from the report is the need for leaders of the future to stay very close to market and technology trends and to have the adaptability and agility to respond quickly to changes so they are not caught on the back foot.” Request a copy of the Vision 2040 report here: https://ennisco.com/vision-2040/ Lisa Laverick Editor - Asset Finance Connect Sign up to our newsletter Featured Stories NewsMotor finance compensation estimates balloon NewsSenior management changes at Lightfoot NewsArval’s analysis reveals longevity of EV batteries Auto Finance