Projected global economic recovery trajectory estimates that next year the global auto market will zoom ahead by 9% to 83.4 million, advance another 5% in 2022 to 86.9 million followed by another solid 4% in 2023 to 89.7 million. However, it also comes with transformation in both supply and demand sides. Demand for battery electric vehicles (BEV) and other EVs are expected to have reached nearly 2.5 million in 2020, and then rise by about 70% in 2021. It is estimated to touch 12.2 million in 2025. Environmental legislations in various countries will be prime drivers of this change.
Unlike the pre-pandemic auto supply chain planning, the future auto supply chains will have three key characteristics. Global auto companies are increasingly looking for engagement with worldwide suppliers. In addition to engineering capabilities, risk planning and agile manufacturing are expected from the suppliers to win business.
Supply chain spectrum is going to be more skewed towards responsiveness in short run. Given the present and near future circumstances, auto makers tend to provide higher weightage for strengthening supply chain responsiveness. Data analytics and business intelligence will continue to get attention in tactical supply chain planning.
While fully autonomous vehicles moved from concept to testing stage, connected supply chains are now a reality. The success of connected supply chains will rely on various logistics service providers ability to deploy emerging technologies and global transport management systems.
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