Currently, the situation isn't bad
Oil prices will probably stay low for some time now, and gradually, the technology used inside cars will become more and more sophisticated. It will also become more and more affordable.
These bright prospects encourage companies producing cars to invest heavily. New features for cars are being developed, with the emphasis being on safety and navigation.
Fully autonomous vehicles, which will be able to drive themselves in any traffic and weather conditions, are expected. However, the latest developments suggest it will take some time – maybe even decades.
There are several challenges for the industry
Only a few industry players are well prepared for a series of additional challenges which an article on the strategy-business.com website describes. It even states that some companies aren't even willing to acknowledge these challenges.
Before autonomous vehicles become the norm, there will still be tightened emissions requirements. Car makers also need to continue to expand in new markets geographically. New vehicles must be also introduced, because transportation needs are evolving.
Automakers may integrate the manufacturing of various components or shift the production to the suppliers. These companies also may also choose to specialize in particular categories of cars.
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