Climate change: The automotive industry’s 100-year storm[$file/Industry_Automotive_Climate_change.pdf]
The response to climate change may have a greater impact on the automotive industry than all the other factors mentioned, as a confluence of pressures that would have been unimaginable just a decade ago are now converging to create new opportunities and risks. Federal, state, provincial and local governments are beginning to take action to combat climate change, implementing both incentives and penalties that can have substantial impacts on the operation of automotive companies.

It’s not just the regulators that stand to transform this industry going forward. Investors are favoring companies making the necessary technological investments to create the desirable “green” vehicles. Consumers and businesses are demanding more efficient, less costly products. Innovators are looking for partners to implement their ideas and have the greatest leverage on reducing the environmental impact of the automobile.

All of these influences are resulting in a period of rapid transformation for the automotive industry unlike anything seen since the early part of the 20th century.

The actions by governments, customers, investors and innovators in response to concerns about climate change are most visibly influencing the industry by altering the design and production decisions that vehicle and component manufacturers make as they develop the vehicles of tomorrow. However, climate change’s impact on the automotive industry extends far beyond the product; it is creating a business response that will touch every aspect of the global industry.

Click here to download the latest Ernst & Young Global Automotive Center thought leadership on the business response to climate change.


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