GROWTH DEBATE THE FUTURE OF THE AUTOMOTIVE INDUSTRY SPONSORED BY BARCLAYS COMMITTED TO HELPING BUSINESSES ACHIEVE THEIR AMBITIONS T: 07766 364 541 | E: howard.noye@barclays.com
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WHAT NEXT FOR THE AUTOMOTIVE INDUSTRY?
T
he motor industry is evolving at an unprecedented rate, with emerging technologies, changing mobility trends and environmental concerns setting the agenda.
Business Leader partnered with Barclays Corporate Banking for a roundtable with some key players from the sector to ask: What does the future hold for the automotive industry?
WHAT ARE THE CHALLENGES FACING THE CONTEMPORARY AUTOMOTIVE INDUSTRY?
the roads – there are massive, massive challenges for everybody in all sectors of the industry.”
Tim Bagnall, MD at CCR Motor Co: “Electrification – the transition from combustion engines to electric – is having a massive impact. I think general environment and social responsibility at board level, plus government policy, is driving the change through, and the pace of change is just immense.
Robert Freeman, CEO of Malvern Tyres: “When you get down to it, where is the infrastructure? Are you going to have electric wires hanging out of shop windows?
“The challenge in the marketplace is getting the customer to understand that change, to understand the technologies. The buying public don’t really know what’s going on. “From an infrastructure point of view too – how we charge these vehicles out on 22
“The public will not accept it unless the infrastructure is right. If the infrastructure is not right, they’ll do a u-turn, they’ll have to. I just can’t see the infrastructure spend.” Martin Wilson, MD at Scot Group: “Is electric the ultimate answer anyway? Or is it just a stepping stone to something else? Why would you put massive investment into electric if it’s not the ultimate answer?”
Michael Finn, CEO at Wellington Motor Group: “There are still some major manufacturers investing very serious amounts of money in diesel technology. Everybody says diesel is finished, petrol is finished – why are they investing so much money? It’s confusing, it really is. “If the world wobbles again – and we’re going to have another recession at some point – all of this gets put back at a dramatic rate. “The government bringing back its petrol and diesel end date from 2040 to 2035 was a nice statement for them to say, it makes good headlines, but I honestly don’t think they knew what they announced. When it comes to hybrids, I definitely think March - April 2020
