Automotive Industry

Consumer interest in electric and self-driving vehicles is growing

image of an electric vehicle charging

Car companies will need to continuously look ahead and embrace new technologies in their business strategies. Image: Unsplash/CHUTTERSNAP

Matias Garibaldi
Engagement Manager, Mckinsey and Company
Eric Hannon
Partner, McKinsey & Company
Kersten Heineke
Partner, McKinsey & Company, McKinsey Center for Future Mobility (MCFM)
Emily Shao
Associate Partner, Mckinsey and Company
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Automotive Industry

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a chart showing that automotive consumers now view original-equipment manufacturers more favourably than they did before the COVID-19 pandemic
Consumer opinions on original-equipment manufacturers have changed during the pandemic. Image: Mckinsey & Company
a chart showing that the COVID-19 pandemic has increased interest in buying battery electric vehicles and partial-hybrid electric vehicles
The electric and partial-hybrid vehicle market has grown throughout COVID-19. Image: Mckinsey & Company

What is the World Economic Forum doing about circularity and the automotive industry?

a chart showing that a majority of consumers believe that electric vehicles should handle long-haul trucking and intracity delivery; many are willing to pay a premium for the shift
Most consumers are willing to pay more so that electric vehicles can adapt to long-haul trucking and intracity delivery. Image: Mckinsey & Company
a chart showing that many electric vehicle buyers valued low-emissions manufacturing and end-of-life recycling.
Consumer preferences are changing among potential electric-vehicle buyers. Image: Mckinsey & Company
a chart showing that many potential electric vehicle buyers were interested in the use of sustainable materials and local manufacturing
Potential electric vehicle buyers are now more interested in sustainability. Image: Mckinsey & Company
a chart showing that the COVID-19 pandemic has accelerated consumers' interest in autonomous-vehicle delivery
Interest in autonomous vehicle delivery is on the rise. Image: Mckinsey & Company
a chart showing that most people cannot differentiate between advanced driver-assistance systems and autonomous vehicles
Public knowledge of the difference between advanced driver-assistance systems and autonomous vehicles appears to be limited. Image: Mckinsey & Company
a chart showing that the major factors preventing the adoption of autonomous vehicles includes lack of trust in the technology and safety concerns
Lack of trust and safety concerns is preventing the purchasing of autonomous vehicles. Image: Mckinsey & Company
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Related topics:
Automotive IndustryFourth Industrial RevolutionTechnological TransformationEmerging TechnologiesCOVID-19
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