Innovations are the fuel of the automotive industry. They serve to differentiate brands, adapt cars to changing customer preferences, provide answers to global challenges and so ensure the continued success of the industry. In the face of ever stricter emissions limits and increasingly scarce commodities, the entire concept of individual mobility is at risk. It will take innovative and affordable technologies, especially with regard to drive systems and materials, to realize the full growth potential of 100 million motor vehicles by the year 2020.
In 2001, Mercer Management Consulting (now Oliver Wyman) published a comprehensive study titled “Automotive Technology 2010.” Since then, this study has become the basis for many strategy discussions in the industry and inspired many of our automotive consulting projects. Six years later, the new study, “Car Innovation 2015,” continues this trend-setting work and expands the technological perspective to all aspects of innovations, not just the technological ones.
Worldwide megatrends show the needs of tomorrow and should define the focus of an innovation strategy.
A continuous evaluation of the potentials of new technologies can improve the resource deployment in R&D significantly.
Knowing the customer's understanding and acceptance of new technologies helps automotive companies to better plan innovations.
To keep cars affordable cost innovations will have to be encouraged on all levels.
The Oliver Wyman “Innovation Strategy Framework” helps to create stringent innovation strategies.
For more than nine months, over 30 experts at Oliver Wyman have contributed to “Car Innovation 2015.” The study comprises:
Based on the extensive findings of this study, Oliver Wyman’s automotive experts developed a range of recommended actions to improve the innovation management process of all automotive manufacturers and suppliers. These recommendations deal with how automotive companies should design and structure their innovation management programs.